Carbon trade: Africa bashes 2024 Bonn Climate Change Conference

Africa Science News

By Henry Neondo

A meeting in Zimbabwe, African carbon trade specialists bashed the lackadaisical outcomes of the Bonn Climate Conference and instead called for the urgent promotion of technologies and practices that could drive emissions reductions, rather than solely relying on mobilizing development or climate finance.
The meeting, jointly organised by the African Group of Negotiators on climate change (AGN), the Climate Policy Centre of the ECA, in collaboration with the Government of Zimbabwe noted the essential role carbon markets play in incentivizing emission reductions and fostering sustainable practices to align with the goals of the Paris Agreement and called urged for integrity and transparency in carbon market design.
“There is increasing interest in carbon markets in Africa against a background of lack of clarity on operationalization of the rulebook for the implementation of Article 6 Paris Agreement,” noted Washington Zhakata of Zimbabwe.
At the sixtieth session of the subsidiary bodies (SB60) of the United Nations Framework Convention on Climate Change (UNFCCC), Parties failed to reach agreement on all technicalities related to the implementation of Article 6 of the Paris Agreement, demonstrating the complex challenges of emissions trading.
Particularly pertinent issue was the methodological elements of the new UN carbon crediting mechanism which has largely remained unresolved.
Article 6 governs how countries can cooperate voluntarily in the implementation of their nationally determined contributions to climate action while promoting sustainable development and environmental integrity.
The meeting in Zimbabwe addressed current asymmetry between supply and demand in African carbon markets, with the urgent need for regulatory tools to manage these markets effectively being of particular interest.
Currently, Ghana, Mozambique, Senegal, Zambia, South Africa, Uganda and Zimbabwe are prominent taking initiatives to implementing Article 6 of the Paris Agreement, showcasing a commitment to combating climate change through carbon pricing mechanisms, clean energy projects, and sustainable agriculture practices.

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