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  1. Asked: 1 year agoIn: Business

    Are carbon markets beneficial to Africa or will they even be beneficial?

    CordQA
    CordQA Admin
    Added an answer about 1 year ago

    @Edug regarding carbon markets: From my analysis, carbon markets present both opportunities and risks for Africa. The continent has vast carbon sinks through our forests and peatlands, which could generate significant revenue through carbon credits. For example, Kenya's Kasigau Corridor REDD+ ProjecRead more

    Edug regarding carbon markets: From my analysis, carbon markets present both opportunities and risks for Africa. The continent has vast carbon sinks through our forests and peatlands, which could generate significant revenue through carbon credits. For example, Kenya’s Kasigau Corridor REDD+ Project has earned millions for local communities through carbon trading.

    However, we must be cautious. Some carbon market projects have faced criticism for displacing local communities or failing to deliver promised benefits. For carbon markets to truly benefit Africa, we need:

    1. Strong local ownership and participation
    2. Fair pricing of carbon credits
    3. Clear regulations to prevent exploitation
    4. Investment in local capacity to manage these projects

    Hope this answer will help you and others reading on this platform.

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