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Uganda and other African nations can among other things, now voluntarily collaborate with other countries to implement their Nationally Determined Contributions (NDCs) through broader carbon markets. They can engage in bilateral exchanges of mitigation outcomes (ITMOs) to assist them achieve their NDCs.”
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:
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