By: Oforiwa Darko
CARBON FOOTPRINT
Every five Africans rely on solid biomass for cooking, which causes an estimated 600,000 deaths per annum. A report by African Development Bank shows that the figures are alarming, while some findings from Scientists also indicate that this is due to household air pollution and deforestation.
This is just a smaller picture of the contributors of the greenhouse gas emissions, and Africa contributes the smallest share of the global greenhouse gas emissions.
For an aligned outcome of transitioning into green economies, where vulnerable communities would not be left out, the race for a carbon free Africa unlike most races, would never crown a winner. Together, Africa is racing for a better, healthier and safer world as a number of adaptation projects have been started in Africa to achieve a zero-carbon Continent.
AFRICAN COUNTRIES TAKE UP CHALLENGE TO LEAD
The City of Tshwane, formerly known as Pretoria in South Africa, for instance, has carried out an inventory of its emissions, to better understand which areas need the most urgent work within the energy, waste management and transport space. Per a study conducted by the mayor’s office, through the inventory, it sees how much each sector is emitting and that assists in planning to reduce or act upon these emissions.
In 2019, Gabon was the first country in Africa to receive results-based payments for reduced emissions from deforestation and forest degradation. Now, the country is leading the way in maintaining its status of High Forest Cover Low Deforestation country. Gabon has been able to reduce CO2 emissions even further.
HARNESSING CARBON MARKETS FOR AFRICA
At the launch of the African Carbon Markets initiative at COP 27, in Sharm El-Sheik, Egypt, Gabon’s Minister for Water and Environment, British Lee White confirmed Gabon’s success story of drastically reducing Carbon emissions.
“In Gabon, we absorb a hundred million tonnes of Carbon dioxide out of the atmosphere every year. We absorb them into the forests and soils. Soil carbon is one of the most scalable forms of carbon so if you can absorb 50 million into your soils you are helping to create spaces devoid of CO2. The potential for agricultural soils to capture and store carbon dioxide is one of the most hopeful solutions to address climate change.
“This can be done on a massive scale.” British Lee White further noted.
African Carbon Market Initiative, led by a 13-member steering committee of African leaders, CEOs, and carbon credit experts, seeks to expand Africa’s participation in voluntary carbon markets.
The initiative is in collaboration with Global Energy Alliance for People and Planet, Sustainable Energy for All, and the UN Economic Commission for Africa, with the support of the UN Climate Change High-Level Champions; Mahmoud Mohieldin and Nigel Topping.
WORLD LEADERS PLEDGE SUPPORT
The President of Malawi, Lazarus Chakwera, said that Malawi has been engaging with a carbon market called the national REDD+ Program, however collaborating with the African Carbon Market Initiative, ACMI, would help to strengthen Malawi’s efforts in creating a truly comprehensive plan that unlocks an end to end carbon credit eco-system in Malawi.
”Since 2015, there have been various projects in agriculture and energy and as a result, last year a total of 600,000 tonnes of carbon credits were produced but my expectation is huge and we have only scratched the surface, with other opportunities ready to be unlocked in waste management solutions”.
“We want to expand these projects, we plan to expand these projects and we will expand these projects. Our target is to scale up domestic generation of carbon credits up to 5 million carbon credits, more eight tonnes of current production. We therefore take advantage of the opportunities for partnership from the is initiative. Malawi is ready”.
Launching the African Carbon Market Initiative at COP 27, Kenyan President, William Ruto, noted that Africans have the potential to play a unique and significant role in the prevention and mitigation of emissions and the protection of crucial ecosystems.
“Globally, we have a golden opportunity to rapidly achieve these objectives, by developing a robust, transparent and sustainable mechanism through which a carbon credits market can yield attractive income and development opportunities for communities at the frontlines in the fight against climate change”.
According to President Ruto, it is crucial to develop modalities for proper valuation of existing carbon sinks before they fall for imminent threats such as deforestation and other forms of degradation.
COMMITMENTS AND TARGETS
The African Carbon Market Initiative, ACMI, has a bold ambition for the continent, to reach 300 million credits produced annually by 2030. This level of production would unlock six billion in income and support 30 million jobs. By 2050, ACMI is targeting over 1.5 billion credits produced annually in Africa, leveraging over $120 billion and supporting over 110 million jobs.
Under this initiative, Countries can trade carbon credits generated by the reduction or removal of greenhouse gas emissions from the atmosphere, such as by switching from fossil fuel to renewable energy or by increasing or conserving carbon stocks in ecosystems such as a forest.
