Climate change presents the continent of Africa with multiple challenges. African countries are particularly exposed to the physical risks arising from the global rise in temperatures. They also face the question of how to manage and finance the economic transformation that will be required to curb greenhouse gas emissions and halt the destruction of nature. One important answer is the subject of this report — namely the role that voluntary carbon markets could play in Africa’s energy transition and commercialization of its nature assets. Voluntary carbon markets (VCMs) represent a major opportunity to accelerate economic development and simultaneously curb greenhouse gas emissions. But seizing this opportunity will take thoughtful and deliberate action, especially by African stakeholders. This document is intended as a practical guide for how this immense potential could be realised. It sets out an ambition for voluntary carbon markets in Africa and proposes action to help fulfil that ambition.
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