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African carbon market

January 01, 1970

The African carbon market refers to the market for the trading of carbon credits generated by projects in Africa that reduce greenhouse gas emissions or carbon sequestration projects.[1]

The African carbon market is an effort to integrate climate change mitigation with poverty alleviation for local-level farmers in Africa. Agricultural carbon market participants seek to receive credit for avoided greenhouse gas emissions while granting monetary benefits to farmers.[2]

There are several controversies and discourses surrounding the African carbon market, and carbon markets as a whole concerning the efficacy of the projects and systems that attempt to alleviate poverty and mitigate the effects of carbon emissions and the fundamental power structures that come with corporate influence over the carbon cycling capacity of the environment and developing communities and countries in which carbon markets are located.[3]

Background edit

The African carbon market is one of the many carbon credit trading markets established since the Kyoto Protocol in 1997.[1]

Microsoft and the Wildlife Conservation Society (WCS) participated in the first government-backed sale of carbon credits in Africa with the Government of Madagascar in 2014.[4]

Purpose and Implementation edit

In some cases carbon credit projects are done directly with small-scale farmers, and in other cases large parcels of land are leased to a government or corporation for processes like reforestation or afforestation. For example, Green Resources Ltd (GRL) is one owner of a long term lease from the Tanzanian government in order to reforest certain areas. Practices that receive carbon credits include mainly: implementation of sustainable energy practices, soil carbon management, implementation of crop rotation agriculture, reforestation, and afforestation.[5] In a 2013 study of 78 voluntary market-based projects, located in 23 countries in Africa, 42% of projects were energy efficiency projects, 40% afforestation/reforestation, 7% solar projects, 4% biomass energy projects, and the remaining percent makes up smaller types of projects (such as hydro and wind).[1]

The program evolved in the 2000s to divide into two systems: compliance and voluntary markets. These markets diverge when it comes to regulation structures. The Voluntary Carbon Market (VCM) is less formalized, and not addressed by the Clean Development Mechanism (CDM). These make up the projects mediated by private, non-state entities. The compliance market, governed by the CDM, is much more formal and hierarchical, with these being the projects mediated by national and international institutions.[1]

In a 2013 study of 78 voluntary market-based projects, located in 23 countries in Africa, of the project developers 59% were private international businesses, 28% were international non-profit organizations, 9% were private local businesses, and 4% were local non-profit organizations.[1]

In 2011, voluntary carbon markets brought $60 million to Africa, with that increasing to $66 million in 2012.[6]

Controversy and Discourse edit

There has been much discussion about the effectiveness of carbon financing as a whole, and controversy around such topics. The case of Africa is unique from the rest in the way that there is relatively little experience, but when combined with extensive evidence from across the global south, Africa plays an important part in the discussion of carbon markets as a whole.[7]

The root of the criticisms of carbon markets as a whole, is in that privatization of the Earth's carbon cycling capacity has been based in political and economic processes including neoliberalism of the environment, increasing financialization, and the ongoing governance configurations across key institutions and nation states. This is then used to argue that carbon financing as a whole is used to protect the interests of the fossil fuel-dependent industrial complex. Essentially, critics of carbon markets assert that the whole system is used to avoid responding to the need for low-carbon infrastructure and to perpetuate the current economic relations or 'business as usual'.[7]

The efficacy of carbon pricing in general has been evaluated in a study of global carbon pricing emissions reductions from 1990 to 2021. Compiling more than 37 studies on the efficacy on carbon pricing, the data indicated that the emissions reductions from this method maintained in the range of 0% and 2% per year globally. For comparison, the IPCC states that emissions must fall by 45% by 2030 in order to reach the limit set as a goal during the Intergovernmental Panel on Climate Change in 2018 (known as the Paris Agreement).[8]

There have also been concerns expressed about whether afforestation, reforestation, and carbon soil sequestration projects are being assessed at the proper level or carbon emission reductions, or whether this process is as effective at storing or reducing carbon as it is supposed to be. Scientists currently cannot evaluate exactly how much carbon is stored or released in these processes, and concerns about the payout of carbon credits for these uncertain processes exist among climate scientists.[3]

References edit

  1. ^ a b c d e Karavai, Maryna; Hinostroza, Miriam (January 2013). "Conceptualizations of sustainability in carbon markets". Climate and Development. 5 (1): 33–45. doi:10.1080/17565529.2012.762332. ISSN 1756-5529.
  2. ^ Lee, Jean; Ingalls, Micah; Erickson, Jon D.; Wollenberg, Eva (July 2016). "Bridging organizations in agricultural carbon markets and poverty alleviation: An analysis of pro-Poor carbon market projects in East Africa". Global Environmental Change. 39: 98–107. doi:10.1016/j.gloenvcha.2016.04.015.
  3. ^ a b McAfee, Kathleen (2015-08-04). "Green economy and carbon markets for conservation and development: a critical view". International Environmental Agreements: Politics, Law and Economics. 16 (3): 333–353. doi:10.1007/s10784-015-9295-4. ISSN 1567-9764.
  4. ^ Deel, Lindsay (2014). "Microsoft buys first carbon credits in Africa". Frontiers in Ecology and the Environment. 12 (3): 148–148. ISSN 1540-9295.
  5. ^ Lee, Jean; Ingalls, Micah; Erickson, Jon D.; Wollenberg, Eva (July 2016). "Bridging organizations in agricultural carbon markets and poverty alleviation: An analysis of pro-Poor carbon market projects in East Africa". Global Environmental Change. 39: 98–107. doi:10.1016/j.gloenvcha.2016.04.015.
  6. ^ Siedenburg, Jules; Brown, Sandra; Hoch, Stephan (2015-02-11). "Voices from the field – carbon markets and rural poverty as seen from Madagascar and Mali". Climate and Development. 8 (1): 10–25. doi:10.1080/17565529.2014.998602. ISSN 1756-5529.
  7. ^ a b Silver, Jonathan (April 2015). "The potentials of carbon markets for infrastructure investment in sub-Saharan urban Africa". Current Opinion in Environmental Sustainability. 13: 25–31. doi:10.1016/j.cosust.2014.12.004. ISSN 1877-3435.
  8. ^ Green, Jessica F (2021-03-24). "Does carbon pricing reduce emissions? A review of ex-post analyses". Environmental Research Letters. 16 (4): 043004. doi:10.1088/1748-9326/abdae9. ISSN 1748-9326.

Further reading edit

  • Kreibich, Nicolas; Hermwille, Lukas; Warnecke, Carsten; Arens, Christof (23 February 2017). "An update on the Clean Development Mechanism in Africa in times of market crisis" (PDF). Climate and Development. 9 (2): 178–190. doi:10.1080/17565529.2016.1145102. S2CID 55580792.
  • Bryan, Elizabeth; Akpalu, Wisdom; Yesuf, Mahmud; Ringler, Claudia (October 2010). "Global carbon markets: Opportunities for sub-Saharan Africa in agriculture and forestry". Climate and Development. 2 (4): 309–331. doi:10.3763/cdev.2010.0057. S2CID 153499277.


 

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January 01, 1970
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This article is an orphan as no other articles link to it Please introduce links to this page from related articles try the Find link tool for suggestions June 2023 The African carbon market refers to the market for the trading of carbon credits generated by projects in Africa that reduce greenhouse gas emissions or carbon sequestration projects 1 The African carbon market is an effort to integrate climate change mitigation with poverty alleviation for local level farmers in Africa Agricultural carbon market participants seek to receive credit for avoided greenhouse gas emissions while granting monetary benefits to farmers 2 There are several controversies and discourses surrounding the African carbon market and carbon markets as a whole concerning the efficacy of the projects and systems that attempt to alleviate poverty and mitigate the effects of carbon emissions and the fundamental power structures that come with corporate influence over the carbon cycling capacity of the environment and developing communities and countries in which carbon markets are located 3 Contents 1 Background 2 Purpose and Implementation 3 Controversy and Discourse 4 References 5 Further readingBackground editThe African carbon market is one of the many carbon credit trading markets established since the Kyoto Protocol in 1997 1 Microsoft and the Wildlife Conservation Society WCS participated in the first government backed sale of carbon credits in Africa with the Government of Madagascar in 2014 4 Purpose and Implementation editIn some cases carbon credit projects are done directly with small scale farmers and in other cases large parcels of land are leased to a government or corporation for processes like reforestation or afforestation For example Green Resources Ltd GRL is one owner of a long term lease from the Tanzanian government in order to reforest certain areas Practices that receive carbon credits include mainly implementation of sustainable energy practices soil carbon management implementation of crop rotation agriculture reforestation and afforestation 5 In a 2013 study of 78 voluntary market based projects located in 23 countries in Africa 42 of projects were energy efficiency projects 40 afforestation reforestation 7 solar projects 4 biomass energy projects and the remaining percent makes up smaller types of projects such as hydro and wind 1 The program evolved in the 2000s to divide into two systems compliance and voluntary markets These markets diverge when it comes to regulation structures The Voluntary Carbon Market VCM is less formalized and not addressed by the Clean Development Mechanism CDM These make up the projects mediated by private non state entities The compliance market governed by the CDM is much more formal and hierarchical with these being the projects mediated by national and international institutions 1 In a 2013 study of 78 voluntary market based projects located in 23 countries in Africa of the project developers 59 were private international businesses 28 were international non profit organizations 9 were private local businesses and 4 were local non profit organizations 1 In 2011 voluntary carbon markets brought 60 million to Africa with that increasing to 66 million in 2012 6 Controversy and Discourse editThere has been much discussion about the effectiveness of carbon financing as a whole and controversy around such topics The case of Africa is unique from the rest in the way that there is relatively little experience but when combined with extensive evidence from across the global south Africa plays an important part in the discussion of carbon markets as a whole 7 The root of the criticisms of carbon markets as a whole is in that privatization of the Earth s carbon cycling capacity has been based in political and economic processes including neoliberalism of the environment increasing financialization and the ongoing governance configurations across key institutions and nation states This is then used to argue that carbon financing as a whole is used to protect the interests of the fossil fuel dependent industrial complex Essentially critics of carbon markets assert that the whole system is used to avoid responding to the need for low carbon infrastructure and to perpetuate the current economic relations or business as usual 7 The efficacy of carbon pricing in general has been evaluated in a study of global carbon pricing emissions reductions from 1990 to 2021 Compiling more than 37 studies on the efficacy on carbon pricing the data indicated that the emissions reductions from this method maintained in the range of 0 and 2 per year globally For comparison the IPCC states that emissions must fall by 45 by 2030 in order to reach the limit set as a goal during the Intergovernmental Panel on Climate Change in 2018 known as the Paris Agreement 8 There have also been concerns expressed about whether afforestation reforestation and carbon soil sequestration projects are being assessed at the proper level or carbon emission reductions or whether this process is as effective at storing or reducing carbon as it is supposed to be Scientists currently cannot evaluate exactly how much carbon is stored or released in these processes and concerns about the payout of carbon credits for these uncertain processes exist among climate scientists 3 References edit a b c d e Karavai Maryna Hinostroza Miriam January 2013 Conceptualizations of sustainability in carbon markets Climate and Development 5 1 33 45 doi 10 1080 17565529 2012 762332 ISSN 1756 5529 Lee Jean Ingalls Micah Erickson Jon D Wollenberg Eva July 2016 Bridging organizations in agricultural carbon markets and poverty alleviation An analysis of pro Poor carbon market projects in East Africa Global Environmental Change 39 98 107 doi 10 1016 j gloenvcha 2016 04 015 a b McAfee Kathleen 2015 08 04 Green economy and carbon markets for conservation and development a critical view International Environmental Agreements Politics Law and Economics 16 3 333 353 doi 10 1007 s10784 015 9295 4 ISSN 1567 9764 Deel Lindsay 2014 Microsoft buys first carbon credits in Africa Frontiers in Ecology and the Environment 12 3 148 148 ISSN 1540 9295 Lee Jean Ingalls Micah Erickson Jon D Wollenberg Eva July 2016 Bridging organizations in agricultural carbon markets and poverty alleviation An analysis of pro Poor carbon market projects in East Africa Global Environmental Change 39 98 107 doi 10 1016 j gloenvcha 2016 04 015 Siedenburg Jules Brown Sandra Hoch Stephan 2015 02 11 Voices from the field carbon markets and rural poverty as seen from Madagascar and Mali Climate and Development 8 1 10 25 doi 10 1080 17565529 2014 998602 ISSN 1756 5529 a b Silver Jonathan April 2015 The potentials of carbon markets for infrastructure investment in sub Saharan urban Africa Current Opinion in Environmental Sustainability 13 25 31 doi 10 1016 j cosust 2014 12 004 ISSN 1877 3435 Green Jessica F 2021 03 24 Does carbon pricing reduce emissions A review of ex post analyses Environmental Research Letters 16 4 043004 doi 10 1088 1748 9326 abdae9 ISSN 1748 9326 Further reading editKreibich Nicolas Hermwille Lukas Warnecke Carsten Arens Christof 23 February 2017 An update on the Clean Development Mechanism in Africa in times of market crisis PDF Climate and Development 9 2 178 190 doi 10 1080 17565529 2016 1145102 S2CID 55580792 Bryan Elizabeth Akpalu Wisdom Yesuf Mahmud Ringler Claudia October 2010 Global carbon markets Opportunities for sub Saharan Africa in agriculture and forestry Climate and Development 2 4 309 331 doi 10 3763 cdev 2010 0057 S2CID 153499277 nbsp This article about climate change is a stub You can help Wikipedia by expanding it See guidelines for writing about climate change Further suggestions might be found on the article s talk page vte Retrieved from https en wikipedia org w index php title African carbon market amp oldid 1213420054, wikipedia, wiki, book, books, library,

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