Carbon Markets in Africa: An Overview

Historically, Africa had a limited presence in the global carbon market – only 3 per cent of CDM’s carbon credit projects originated from Africa as of 2022. But with the growth in voluntary carbon markets, the region is seeing a surge. In 2024, one-fifth of the projects listed in top carbon market registries have been coming from Africa, with the bulk of them focused on two main areas: forestry and land use, and community-based projects, particularly those involving household devices like improved cookstoves. This briefing paper offers a quick bird’s eye view of this emerging carbon market in the continent.

 

Programme Officer, Climate Change, CSE