Unlocking Africa’s Carbon Market

An overview of German initiatives

West Africa

is home to more than 300 million inhabitants and is characterized by rapid population growth. The region is united beyond national borders by common traditions and languages. Economic, commercial and social interdependencies are being reinforced. Countries in the region are working towards the vision of a borderless region, harmonized policies and a single currency. Strong political cooperation among the countries in the region provides the opportunity to address the most pressing development challenges, such as food and health crises, and also climate change. West Africa has recently become a focus region for BMU’s activities in Africa. One cornerstone activity is the West African Alliance on Carbon Markets and Climate Finance, a multi-country initiative that also comprises country-specific support activities and close collaboration with other BMU initiatives in the region. West Africa also hosts some of the mitigation activities supported by BMU through initiatives such as the Future of the Carbon Market Foundation.

Published by Wuppertal Institute for Climate, Environment and Energy 36 Seiten DIN A4 Layout by Selbach Design

Climate change has been identified as one of the key threats to human society. It exposes individuals, societies, economic sectors and ecosystems to wideranging risks. The rise in average temperature of the earth’s climate system leads to changing weather patterns,

provoking droughts in some regions and flooding in others, temperature increases and heat waves, sea level rises and ocean acidification. Africa is among the regions most vulnerable to climate change and its countries with particularly low capacities to respond

will be disproportionally impacted by the changes it brings. This makes climate change mitigation a global imperative, with Africa as part of the solution. In order to stay within the temperature limits set out in the Paris Agreement, developed countries in particular

will have to significantly raise their ambition in terms of climate change mitigation. International marketbased cooperation and carbon markets can play a crucial role in this regard, enabling collective action that goes beyond current ambition levels.