The current global climate crisis has led to the creation of a global market for developing country emission credits. In 2007, the World Bank valued these emission credits at over US$7.5 billion. This carbon market allows projects that reduce Green House Gas (GHG) emissions to sell their credits to companies and governments in industrialised countries that have committed to cut their GHG emissions. The income from selling the credits could help beneficiary countries to invest behind climate-friendly and sustainable development. The Kyoto Protocol and the resulting carbon markets have a narrow focus on industrial and energy-related emissions which only benefits a few African countries with a sizeable industrial base such as Nigeria, South Africa and Egypt. As a result of this biased focus, out of more than 1,100 Clean Development Mechanism (CDM) projects registered by June 2008, only 17 are located in Africa, and of those 17, Uganda, Tanzania and Nigeria have one project each, whilst the remaining 14 are located in South Africa.
Increased Expansion of Global Markets
Economic forces in the world's largest global markets continue to signal opportunities for future growth but at the cost of more emissions. Further investment into non-fossil fuel industries such as electric cars, wind power, and hydropower stations shows plenty of promise. Digitalization of previously land-based services also shows signs of net positive emission benefits. For example, the continual legalization of USA betting sites has reduced the need for land-based stores nationwide which has, in turn, reducing the need for unnecessary construction and maintenance which can inversely impact the environment.
The issue
In Sub-Saharan Africa, agriculture, forestry, and land use (commonly referred to as AFOLU) holds the most promising potential for carbon finance. Presently the carbon market is driven by buyers� preferences and has shown little interest in supporting genuine poverty eradication and sustainable development in Africa�s largely agro-based economies. Notably, the less industrialised African countries already store significant amounts of carbon in their soils and forests. It is the conviction of COMESA, SADC and EAC regional blocs that these countries should be recognised and rewarded for contributing to addressing climate change through sustainable agriculture, forest management, and other environmental conservation practices.
The November 2008 Nairobi Declaration on Climate Change adopted by the COMESA Ministers of Agriculture and Environment advocates for the inclusion of all bio-carbons in the post 2012 climate change regime. It also notes that the continent cannot afford to wait any longer, and demands that the rules for a post-Kyoto agreement must change. AFRICA is PRO-REDD and PRO-AFOLU.
Civil Society in Support of African Governments COMESA, in conjunction with SADC and EAC, mandated FANRPAN to mobilise African civil society organisations (CSOs) under the Africa-wide Civil Society Climate Change Initiative for Policy Dialogues (ACCID) and facilitate dialogue around the Africa Bio-Carbon proposal. The main objective of these dialogues is to ensure alignment between African governments and CSOs with regards Africa�s approach to tackling the current Climate Change negotiations and beyond. AFRICA is advocating for a post 2012 protocol that is PRO-REDD and PRO-AFOLU.
