Carbon markets 'bogus solutions' as rich keeps polluting: African activist

The activist spoke at the African Climate Summit, the summit is part of Africa's preparation for the next United Nations climate change conference

Amazon rainforest, Amazon burning, forest fire, climate change
Photo: Bloomberg
AP Nairobi
2 min read Last Updated : Sep 06 2023 | 3:44 PM IST

A Nigerian environmental activist declared Wednesday at the first African Climate Summit that carbon markets are bogus solutions, providing a sharp reminder that not all of Africa's 1.3 billion people support richer countries using the continent's green spaces to offset continued polluting at home.

The summit has sought to reframe the African continent, which has enormous amounts of clean energy minerals and renewable energy sources, as less of a victim of climate change driven by the world's biggest economies and more of the solution, with.

But investment in the continent in exchange for the ability to keep polluting elsewhere has angered some in Africa who prefer to see China, the United States, India, the European Union and others rein in their emissions of planet-warming greenhouse gases.

We reject forced solutions on our land, Priscilla Achakpa, founder of the Nigeria-based Women Environmental Programme, told summit participants on the event's final day. She urged the so-called Global North to remove yourself from the perspective of the colonial past.

The summit is part of Africa's preparation for the next United Nations climate change conference, which is scheduled to take place in Dubai in December.

The summit has largely featured leaders in government, business and civil society, many of them veterans of other climate gatherings.

Heading from event to event doesn't leave us with a lot of constructive thinking time to bridge the gaps that still divide communities on the best ways to reduce emissions, Simon Stiell, the executive secretary of the United Nations Framework Convention on Climate Change, said.

Carbon markets, in which polluters effectively offset emissions by investing in tree-planting or conservation initiatives, are cheaper to purchase in Africa than in many other parts of the world where schemes are more strictly regulated. African nations seek a better price to help achieve their own emission-reduction targets.

In Africa's market, the continent earns less than USD 10 per ton of carbon. Other regions can receive over USD 100 for the same amount. In carbon trading, one credit issued equals 1 ton of carbon dioxide or another greenhouse gas equivalent removed from the atmosphere.

The voluntary carbon market, which remains dominant in Africa, has been plagued by integrity and transparency concerns. Environmental groups are concerned it is a free pass to keep polluting.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

*Subscribe to Business Standard digital and get complimentary access to The New York Times

Smart Quarterly

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Exclusive premium stories online

  • Over 30 premium stories daily, handpicked by our editors

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

Topics :NigeriaAfricaCarbon emissionsEmission norms

First Published: Sep 06 2023 | 3:44 PM IST

Next Story