SCALING CARBON MARKETS TO FINANCE CLEAN ENERGY IN AFRICA

The Africa Carbon Markets Initiative (ACMI), co-led by Sustainable Energy for All (SEforALL), the Global Energy Alliance for People and Planet (GEAPP), and The Rockefeller Foundation, aims to scale voluntary carbon markets (VCMs) in Africa. Launched at COP27, the initiative focuses on directing international finance toward renewable energy, forestry, agriculture, e-mobility, and clean cooking to support decarbonization and green job creation. The ACMI roadmap includes 13 Action Programmes targeting supply, standards, intermediation, financing, and demand. As of April 2023, the initiative has secured approximately USD 200 million in Advance Market Commitments, with a target of USD 1 billion by COP28. Implementation efforts include the development of national Carbon Market Activation Plans (CMAPs) for Kenya, Rwanda, Nigeria, and Ghana, as well as the digitization of Measurement, Reporting, and Verification (MRV) processes and the creation of national carbon registries.

• The Africa Carbon Markets Initiative (ACMI) is designed to create a framework for scaling voluntary carbon markets in Africa to attract international climate finance for projects in renewable energy, forestry and land-use, agriculture and soil sequestration, livestock management, e-mobility, and clean cooking.
• The ACMI roadmap consists of 13 Action Programmes focused on three primary themes: supply (generation) and standards, intermediation and financing, and demand.
• As of April 2023, the initiative has secured approximately USD 200 million in Advance Market Commitments from the private sector, with a goal to reach USD 1 billion by the COP28 climate summit.
• ACMI is implementing national Carbon Market Activation Plans (CMAPs), with a plan being finalized for Kenya and three others being prepared for Rwanda, Nigeria, and Ghana.
• Technical priorities for the initiative include the establishment of national carbon registries and the digitization of the Measurement, Reporting, and Verification (MRV) process for carbon reduction projects.

APA

Sustainable Energy for All (2023). SCALING CARBON MARKETS TO FINANCE CLEAN ENERGY IN AFRICA. https://www.seforall.org/system/files/2023-06/rm-case-study-carbon-markets-africa-005.pdf

Chicago

Sustainable Energy for All. SCALING CARBON MARKETS TO FINANCE CLEAN ENERGY IN AFRICA. 2023. https://www.seforall.org/system/files/2023-06/rm-case-study-carbon-markets-africa-005.pdf.

Wikipedia

{{cite report |author=Sustainable Energy for All |title=SCALING CARBON MARKETS TO FINANCE CLEAN ENERGY IN AFRICA |date=April 2023 |url=https://www.seforall.org/system/files/2023-06/rm-case-study-carbon-markets-africa-005.pdf |access-date=17 August 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{sustainableenergyforall2023scaling, author = {{Sustainable Energy for All}}, title = {{SCALING CARBON MARKETS TO FINANCE CLEAN ENERGY IN AFRICA}}, institution = {Sustainable Energy for All}, year = {2023}, month = apr, url = {https://www.seforall.org/system/files/2023-06/rm-case-study-carbon-markets-africa-005.pdf}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }