Home » Making Carbon Markets Work for Africa
The Economic Commission for Africa (ECA) and Afreximbank will convene the 2023 African Business Forum, an annual platform for dialogue between the African business and political leaders and policy makers, on realizing Agenda 2063 and 2030 Agenda for Sustainable Development.
The sixth edition of the Africa Business Forum convened with the support of the African Union Commission and Sustainable Energy for All, will be held under the theme “Making Carbon Markets Work for Africa” on 20 February 2023 in Addis Ababa, Ethiopia.
“Carbon markets present a great opportunity for African countries to utilize their abundant natural resources to unlock economic value and accelerate sustainable industrialization and economic transformation and diversification.” ECA Acting Executive Secretary, Mr. Antonio Pedro, said, adding that, “The Africa Business Forum is an important platform for Africa to collaborate and trigger action on tapping the opportunities in carbon trading but with the assurance that Africa gets the right price for trading its carbon on the global credit markets.”
Africa has vast amounts of carbon stored in its ecosystems with the Congo forests – dubbed the world’s second lung – being able to absorb about 1.2 billion tons of CO2 each year. The Congo Basin holds roughly 8% of the world’s forest-based carbon.
Mr. Pedro emphasized that Africa is at the cusp of an opportunity to develop the voluntary carbon credit market that will boost climate action while enabling value creation and fostering sustainable livelihoods for communities.
“As Africa seeks to recover from the multi-crises of the COVID pandemic, energy crises and climate change, it is critical that we invest in sustainable value chains that will deliver jobs and resilience and inclusive economic growth. The carbon market present’s such an opportunity for African countries. We must seize it, ” said Mr. Pedro.
The 2023 edition of the Forum aims to build on the positive momentum generated at the 27th Conference of parties of the United Nations Framework Convention on Climate Change (UNFCCC) held in Sharm El-Sheikh in November 2022 on the use of carbon credit markets as a means of accelerating climate action, and in particular generating investment into transformative economic action in African countries.
At COP27, African countries launched the Africa Carbon Markets Initiative to produce 300 million carbon credits annually. The initiative seeks to unlock $6 billion in revenue and create 30 million jobs by 2030.
The one-day Forum will bring together governments, private investors and civil society to facilitate investments in bankable projects that deliver meaningful climate action as well as generate high integrity carbon credits for Africa to accelerate investments and financing for sustainable development.
The goal of the Africa Business Forum is to promote an ongoing dialogue between the private and public sectors in Africa to accelerate collective efforts towards realizing the 2030 Agenda for Sustainable Development and Agenda 2063: The Africa We Want, of the African Union.
Past editions of the Forum have had the following themes: investment in 2018; health in 2019; investing in people, the planet and prosperity in 2020; innovative finance to build towards the Sustainable Development Goals in 2021; and investing in multimodal transport and tourism infrastructure to optimize the benefits of the African Continental Free Trade Area in 2022.
MEA Markets is happy to announce that the MEA Business Awards are returning for the sixth consecutive year! This established awards programme identifies those individuals and companies who excel in their respective industries, encompassing the entirety of the Middle East and Africa in our search to highlight the firms that go above and beyond to establish themselves as business leaders.
Visit our awards hereMEA Markets is very proud to host the UAE Business Awards 2023 for its seventh instalment! This awards programme aims to reward a vastly diverse range of hardworking businesses from across the United Arab Emirates region, who are demonstrating innovation and excellence throughout a turbulent economic climate many firms are suffering through.
Visit our awards hereFor the past five years the African Excellence Awards have recognised the very best of African Industry, and MEA Markets is excited to announce that this respected programme will be returning for its sixth edition in 2023! The African Excellence Awards are an essential guide to the key sectors driving growth throughout the continent, rewarding those outstanding companies and individuals whose entrepreneurship has strengthened Africa’s position as the next global economic powerhouse.
Visit our awards hereWe have packages to suit everyone. Let us help work out which one would suit your needs!
Ground Floor, Suite B-D,
The Maltsters, Wetmore Road,
Burton-on-trent, Staffordshire,
DE14 1LS
MEA Markets is a quarterly publication dedicated to researching and publicising the major moves and events as they happen across the entire Middle East & Africa region.
Our team of highly trained and committed journalists, contributors, researchers and worldwide industry insiders are on hand to ensure that our global readership enjoys 24/7 access to timely and entertaining content that keeps them up to date with the ins and outs of this fast moving region.
Cookie | Duration | Description |
---|---|---|
cf_use_ob | past | Cloudflare sets this cookie to improve page load times and to disallow any security restrictions based on the visitor's IP address. |
cookielawinfo-checkbox-advertisement | 1 year | Set by the GDPR Cookie Consent plugin, this cookie is used to record the user consent for the cookies in the "Advertisement" category . |
cookielawinfo-checkbox-analytics | 11 months | This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics". |
cookielawinfo-checkbox-functional | 11 months | The cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional". |
cookielawinfo-checkbox-necessary | 11 months | This cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary". |
cookielawinfo-checkbox-others | 11 months | This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other. |
cookielawinfo-checkbox-performance | 11 months | This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance". |
CookieLawInfoConsent | 1 year | Records the default button state of the corresponding category & the status of CCPA. It works only in coordination with the primary cookie. |
PHPSESSID | session | This cookie is native to PHP applications. The cookie is used to store and identify a users' unique session ID for the purpose of managing user session on the website. The cookie is a session cookies and is deleted when all the browser windows are closed. |
viewed_cookie_policy | 11 months | The cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data. |
Cookie | Duration | Description |
---|---|---|
na_id | 1 year 1 month | The na_id is set by AddThis to enable sharing of links on social media platforms like Facebook and Twitter. |
na_rn | 1 month | The na_rn cookie is used to recognize the visitor upon re-entry. It allows to record details on user behaviour and facilitate the social sharing function provided by Addthis.com. |
na_sc_e | 1 month | The na_sc_e cookie is used to recognize the visitor upon re-entry. It allows to record details on user behaviour and facilitate the social sharing function provided by Addthis.com. |
na_sr | 1 month | The na_sr cookie is used to recognize the visitor upon re-entry. It allows to record details on user behaviour and facilitate the social sharing function provided by Addthis.com. |
na_srp | 1 minute | The na_srp cookie is used to recognize the visitor upon re-entry. It allows to record details on user behaviour and facilitate the social sharing function provided by Addthis.com. |
na_tc | 1 year 1 month | The na_tc cookie is used to recognize the visitor upon re-entry. It allows to record details on user behaviour and facilitate the social sharing function provided by Addthis.com. |
ouid | 1 year 1 month | Associated with the AddThis widget, this cookie helps users to share content across various networking and sharing forums. |
Cookie | Duration | Description |
---|---|---|
d | 3 months | Quantserve sets this cookie to anonymously track information on how visitors use the website. |
Cookie | Duration | Description |
---|---|---|
__gads | 1 year 24 days | The __gads cookie, set by Google, is stored under DoubleClick domain and tracks the number of times users see an advert, measures the success of the campaign and calculates its revenue. This cookie can only be read from the domain they are set on and will not track any data while browsing through other sites. |
_ga | 2 years | The _ga cookie, installed by Google Analytics, calculates visitor, session and campaign data and also keeps track of site usage for the site's analytics report. The cookie stores information anonymously and assigns a randomly generated number to recognize unique visitors. |
_ga_21JSMT0NZV | 2 years | This cookie is installed by Google Analytics. |
_ga_7GTFNZD3Y9 | 2 years | This cookie is installed by Google Analytics. |
_gat_gtag_UA_63302014_1 | 1 minute | Set by Google to distinguish users. |
_gat_gtag_UA_67421741_1 | 1 minute | Set by Google to distinguish users. |
_gid | 1 day | Installed by Google Analytics, _gid cookie stores information on how visitors use a website, while also creating an analytics report of the website's performance. Some of the data that are collected include the number of visitors, their source, and the pages they visit anonymously. |
aigm_tracking_consent | 1 year | Created by Monster Tracking v2 for internal tracking/fingerprinting - determines whether the user has consented to being tracked by allowing cookies. |
aigm_tracking_id | 1 year | Created by Monster Tracking v2 for internal tracking/fingerprinting - contains the consent ID number of the user. |
ANON_ID | 3 months | This cookie, set by Tribal Fusion, collects data on user visits to the website, such as what pages have been accessed . |
u | 1 year | This cookie is used by Bombora to collect information that is used either in aggregate form, to help understand how websites are being used or how effective marketing campaigns are, or to help customize the websites for visitors. |
uid | 1 year 1 month | This is a Google UserID cookie that tracks users across various website segments. |
Cookie | Duration | Description |
---|---|---|
_rxuuid | 1 year | Unruly Media sets this cookie to store information on how the end user uses the website and any advertising that the end user may have seen before visiting the said website. |
ab | 1 year | Owned by agkn, this cookie is used for targeting and advertising purposes. |
ANON_ID_old | 3 months | This cookie helps to categorise the users interest and to create profiles in terms of resales of targeted marketing. This cookie is used to collect user information such as what pages have been viewed on the website for creating profiles. |
CMID | 1 year | Casale Media sets this cookie to collect information on user behavior, for targeted advertising. |
CMPRO | 3 months | CMPRO cookie is set by CasaleMedia for anonymous user tracking, and for targeted advertising. |
CMPS | 3 months | CMPS cookie is set by CasaleMedia for anonymous user tracking based on user's website visits, for displaying targeted ads. |
DSID | 1 hour | This cookie is set by DoubleClick to note the user's specific user identity. It contains a hashed/encrypted unique ID. |
IDE | 1 year 24 days | Google DoubleClick IDE cookies are used to store information about how the user uses the website to present them with relevant ads and according to the user profile. |
KADUSERCOOKIE | 3 months | The cookie, set by PubMatic, registers a unique ID that identifies a returning user's device across websites that use the same ad network. The ID is used for targeted ads. |
KTPCACOOKIE | 1 day | The cookie, set by PubMatic, registers a unique ID that identifies a returning user's device across websites that use the same ad network. The ID is used for targeted ads. |
ljt_reader | 1 year | This is a Lijit Advertising Platform cookie used for recognizing the browser or device when users return to their site or one of their partner's sites. |
mc | 1 year 1 month | Quantserve sets the mc cookie to anonymously track user behaviour on the website. |
mt_mop | 1 month | MediaMath uses this cookie to synchronize the visitor ID with a limited number of trusted exchanges and data partners. |
pxrc | 2 months | This cookie is set by pippio to provide users with relevant advertisements and limit the number of ads displayed. |
rlas3 | 1 year | RLCDN sets this cookie to provide users with relevant advertisements and limit the number of ads displayed. |
suid_legacy | 1 year | Collects information on user preferences and interaction with web-campaign content which is used on CRM-campaign-platforms used by website owners for promoting events or products. |
test_cookie | 15 minutes | The test_cookie is set by doubleclick.net and is used to determine if the user's browser supports cookies. |
tuuid | 3 months | The tuuid cookie, set by BidSwitch, stores an unique ID to determine what adverts the users have seen if they have visited any of the advertiser's websites. The information is used to decide when and how often users will see a certain banner. |
tuuid_lu | 3 months | This cookie, set by BidSwitch, stores a unique ID to determine what adverts the users have seen while visiting an advertiser's website. This information is then used to understand when and how often users will see a certain banner. |
uuid | 3 months | MediaMath sets this cookie to avoid the same ads from being shown repeatedly and for relevant advertising. |
Cookie | Duration | Description |
---|---|---|
b | 1 year | No description |
CMTS | 3 months | No description |
cookietest | session | No description |
GoogleAdServingTest | session | No description |
suid | 1 year | No description |