Increasing Emissions or Commercializing Emissions, the Dilemma of Africans
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Africa’s potential to participate in the international carbon markets is large, given its ability to contribute to greenhouse gases (GHG) mitigation. Its potential for renewable energy generation, climate smart agriculture and extensive forestry sector all provide huge greenhouse gases mitigation potential. There are also vast areas of low productivity land where management could be altered to increase carbon stocks and create credits. Overcoming the challenges that hinder their exploitation could see Africa increase its ability to tap into the international carbon markets. However, there are certain things that need to be put in place in order for African carbon markets to flourish including filling the financing gaps by leveraging other sources of finance, increasing its investments in renewable energy, catalyzing the African carbon markets by putting in place regulatory systems and increasing public funding for seed capital for carbon reduction projects.