Carbon credits promoted by powerful interests that benefit from maintaining the status quo of fossil fuel dependence, say opposers
After pro-carbon market proponents made what looked like a persuasive case for the initiative at the Africa Climate Summit 2023 in Nairobi, Kenya, activists and other delegates have come out to oppose it. They called the carbon market initiative a leeway for high-income Global North countries to continue polluting the environment.
Speaking at the summit, Nigerian activist Priscilla Achakpa described carbon markets as a “bogus solution” for Africa.
“It’s a bad idea to allow notorious polluters in the Global North to use countries in the Global South with significant forest and tree cover to offset their continued pollution,” said Achakpa, founder of the Nigeria-based Women Environmental Programme.
Carbon market initiative allows polluters to offset their greenhouse gas emissions by investing in development or initiatives such as tree-planting or conservation. They are cheaper to purchase in Africa due to poor regulations and weak policies.
Investment in Africa in exchange for ‘permits to continue polluting elsewhere’ has angered some Africans, who called for heavily industrialised polluters like the United States, China, the European Union and others to rein in their greenhouse gas emissions.
Calling it a “wolf in sheep's clothing”, a new analysis by think tank Power Shift Africa and partners details the dangers of carbon credits and why Africa should not adopt them.
The report instead proposed multiple climate action alternatives for African leaders to effectively respond to the vagaries of climate change. It’s author and Director of Power Shift Africa, Mohamed Adow said carbon markets are like a silver bullet and painkillers for wealthy polluters.
“The carbon credits market initiative allows polluters to keep pumping greenhouse gases into the atmosphere. But for Africa, they are a placebo drug that ends up making the pain of climate change far worse,” said Adow in the report.
“Africa has so much potential to lead the response to the climate crisis caused by rich nations. We have abundant clean renewable resources, visionary leaders and a youthful population that need climate-friendly development. The carbon market initiative solves someone else's problem, repackaged to fool us,” he added.
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The Pan African Climate Justice Alliance (PACJA) also rejected carbon markets, describing them as “false solutions and narratives that undermine African communities' rights, interests and sovereignty”.
The Executive Director of PACJA, Mithika Mwenda said the alliance rejects the deceitful principle of shared responsibility and other false solutions like geoengineering, nuclear energy and carbon markets.
“We reject the initaitive that is promoted by powerful interests who benefit from maintaining the status quo of fossil fuel dependence. Carbon markets are not responsive and do not serve the climate justice imperatives for Africa. We caution African leaders about some proposals or actions,” said Mithika.
Some proposals, like carbon markets, have no significant impact on reducing greenhouse gas emissions, he added.
The Rockefeller Foundation Managing Director for Africa region, William Asiko, had called upon the continent to accelerate its carbon credit supply to amplify its delivery from the current measly 2 per cent of its potential to 40 per cent by 2030.
“Africa’s carbon markets can serve as a template for others across the Global South region and accelerate the transfer of financing from high-income countries to low and middle-income countries,” said Mr Asiyo.
“Rockefeller Foundation, Sustainable Energy for All and Global Alliance for People and Planet have created the African Carbon Market Initiative (ACMI) to help realise the potential of a voluntary carbon market for Africa,” he added.
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Hundreds of millions were pledged for African carbon credits at the summit, with the United Arab Emirates (UAE) committing to buying $450 million of carbon credits from the Africa Carbon Markets Initiative (ACMI).
Furthermore, there was an emphasis on enlarging the potential demand for African credits, ensuring their visibility in global markets and promoting frameworks for intergovernmental trading mechanisms.
United States Special Presidential Envoy for Climate and Former Secretary of State, John Kerry added his voice to the calls, saying Africa needs carbon credit market infrastructure more than ever.
“What is happening to our planet today, from floods, droughts to wildfires are confrontations to humanity by humanity. We have reached a tipping point and must stop it. Africa needs a thriving carbon market as a tool to fight the climate crisis,” he said.
While making a case for carbon credits and other market-based instruments to mobilise climate finance, President William Ruto asked Africa to stop holding itself back with the victimhood mentality. “We are not here to catalogue grievances and list problems. We are here to scrutinise ideas and assess perspectives to unlock climate solutions,” said Ruto.
“Africa is key to decarbonizing the global economy, be it industrialization or manufacturing. GDPs are about assets. Africa has carbon sinks that serve the world. But we get nothing for it; its nowhere in our balance sheet,” he added.
Read more: Africa Climate Summit 2023: Invest in resilient, efficient and sustainable food system, leaders urge
The summit is taking place just days after President Ruto signed into law the Climate Change (Amendment) Bill 2023, creating a legal avenue for Kenya to unlock its potential in the global carbon markets.
Some experts see the law as a game-changer as it contains 17 clauses that set the stage for regulation of carbon markets in Kenya and bolster the country’s ability to mobilise ‘green resources’ globally.
The jury is still out on what direction Africa, which now clearly seems to be at a crossroads regarding carbon markets and the related benefits or harm, should take.
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