Sustainability and carbon market news

The Democratic Republic of Congo (DRC) is set to introduce Lumiere, its new national carbon registry, at the 8th Global Environment Facility Assembly in Samarkand, Uzbekistan, in June. Full operation of the platform is expected later in 2026,...

Kenya is preparing to release three new environmental regulations aligned with Article 6 of the Paris Agreement by the end of this year, a move that could reshape its position in global carbon markets and open new avenues for bilateral cooperation....

A major blue carbon project in Mozambique has reached a significant milestone with the planting of 10 million mangrove trees across 1,300 hectares of coastal wetlands. The announcement was made at the UN Ocean Conference in Nice, France, marking a...

Nigeria has unveiled an ambitious plan to distribute 80 million clean cookstoves nationwide, beginning with 6 million units in the Lagos State. The initiative is part of a broader strategy to generate carbon credits by reducing emissions from...

Africa’s voluntary carbon market (VCM) is set to become a $1.5 trillion industry by 2050, offering significant economic opportunities for the continent, according to experts at the University of Nigeria, Nsukka (UNN). Aerial view of forest workers...

Gabon is set to implement a new carbon levy on 15 February targeting aviation and maritime industries. The levy, priced at $17 per tonne of CO2 equivalent (tCO2e), is expected to cover 3–5 million tCO2e of emissions annually, according to Africa...

Sweden and Rwanda have signed a preliminary agreement to collaborate on carbon reduction projects under Article 6 of the Paris Agreement. This move paves the way for future discussions on specific projects aimed at cutting carbon emissions and...

An ambitious carbon project in Ethiopia has been added to Verra’s Verified Carbon Standard registry. Developed by a Netherlands-based group, the initiative aims to restore 12,000 hectares of native forest in the country’s mountainous regions,...

The lead negotiator for the African bloc at the UN climate talks has called for a unified minimum price on Article 6 carbon credits across the continent. This proposal aims to prevent countries from undercutting each other and support the financing...

Terraformation, the forest restoration firm established by ex-Reddit CEO Yishan Wong, has sold its first Verified Carbon Units (VCUs) through a collaboration with Grosvenor’s UK property division. This milestone comes from Terraformation’s Seed to...

A Swiss-based non-profit, NatureFinance, has released new recommendations to enhance Africa’s biodiversity credit market. These recommendations include establishing minimum price floors for credits and creating an independent body to assess project...

A coalition of 10 West African countries is urging the global community to allow carbon offsets as part of corporate efforts to reduce emissions. These nations argue that offsets are essential for attracting funding necessary for climate and...

The National Agency for Science and Engineering Infrastructure (NASENI) in Nigeria has announced its first-ever investment in Powerstove, a pioneering Nigerian company specialising in eco-friendly cookstoves and carbon credit projects. Picture of a...

The United Nations Development Programme (UNDP) and the Forestry Development Authority (FDA) will launch the LEH GO GREEN project in Monrovia. This initiative, backed by the European Union (EU) and its Member States, prioritises forest ecosystem and...

Base Carbon Inc, through its subsidiary Base Carbon Capital Partners Corp, has successfully obtained 717,558 carbon credits from its Rwanda cookstoves initiative. This batch of credits, certified by Verra with an ‘Article 6 Authorised’ label—a first...

Tanzania has officially granted UpEnergy, a Ugandan project developer, its first-ever letter of authorisation (LoA) for carbon credits for the company's project for cleaner cookstoves. The move positions Tanzania as the third African country,...

BURN Manufacturing, a Kenyan producer and distributor of clean cookstoves, has successfully raised over $12 million to broaden its reach across Africa. This capital boost was primarily led by Key Carbon Ltd, previously known as Carbon Neutral...

Key Carbon, a Canada-based financier, has joined forces with Cartesian Sustainable Finance 1 (CSF), linked to the US's Cartesian Capital Group, in an ambitious $18 million carbon financing arrangement. This deal aims to escalate the production and...

This week marks a significant milestone for Nigeria as Vice President Senator Kashim Shettima is set to initiate the committee for the country’s Carbon Market Activation Plan, a move orchestrated by President Bola Ahmed Tinubu. The plan, endorsed by...

Africa is stepping up its game in the global environmental carbon arena with the launch of the African Carbon Markets Initiative (ACMI). This groundbreaking project aims to unlock the continent's vast potential for carbon credits, paving the way for...

One of Ghana's largest conglomerates, Jospong, has partnered with EKI, a renowned Indian developer, to revolutionise environmental finance in the region. This groundbreaking initiative aligns with the Paris Agreement's Article 6 objectives,...

Climate startup dClimate, supported by billionaire Mark Cuban, has inked a preliminary deal with the Democratic Republic of the Congo government to generate $1 billion in carbon credits. The agreement aims to combat deforestation in a substantial...

African nations could unlock a substantial revenue stream of $82 billion per year through carbon credits, according to insights from the United Nations Economic Commission for Africa. Encouraging African member states at the 2023 COP 28 in Dubai,...

The Johannesburg Stock Exchange (JSE) has introduced the JSE Ventures Carbon Market, a new trading platform developed in partnership with Xpansiv. This initiative allows local stakeholders to trade carbon credits and renewable energy certificates...

Ethiopian Forest Development (EFD) has revealed that Ethiopia's commitment to the forestry sector is on track to generate a staggering $100 million in revenue from carbon trade by 2030. EFD's National Red Plus Program Coordinator, Yitebtu Moges...

Dubai-based company Blue Carbon has entered into a significant memorandum of understanding with Zimbabwe, aiming to generate carbon credits from a substantial portion of the African nation's vast landmass. The deal, announced in Harare, Zimbabwe's...

Countries in West Africa, notably Senegal and Ghana, are set to enter into agreements with Switzerland to sell carbon credits. These credits originate from projects that promote cleaner and more efficient cookstoves. The transaction is expected to...

The Ghanaian government is taking significant steps towards regulating the production of carbon credits within its borders, as announced by the Minister of Lands and Natural Resources, Samuel A Jinapor. This move aligns with a continental trend...

Project Beehive represents a unique and sustainable initiative in Kenya developed by Corekees. The project aims to promote biodiversity, empower local farmers, and contribute to the preservation of bees. Corekees team and local farmers checking...

As part of the Africa Climate Summit, the United States Agency for International Development (USAID) has unveiled a suite of investments and initiatives dedicated to climate action in Africa. These include $35 million in new investments for this...

In a significant move to address climate impacts, the UAE Carbon Alliance, led by H H Sheikha Shamma bint Sultan bin Khalifa Al Nahyan, President and CEO of the UAE Independent Climate Change Accelerators (UICCA), has pledged to purchase $450...

Rwanda is making waves in the global carbon market with an ambitious strategy driven by a new forest law put forward to the Lower House. This law, set to replace the 2013 forest management legislation, is designed to enhance forest protection and...

A collaborative report by the African Natural Capital Alliance (ANCA) and management consulting firm Oliver Wyman has underscored the growing importance of African regulators taking action on nature-related risks in line with their mandate to...

The Republic of the Congo has partnered with Renco Group, an Italian construction and engineering firm, to embark on a large-scale reforestation project. The deal, recently finalised near the Congo's capital, Brazzaville, aims to cover approximately...

Tanzania is set to receive a significant boost in its voluntary carbon market as more than 20 companies have committed to investing over $20 billion in carbon offset credits. The adoption of legislation on carbon trading in Tanzania last year...

South Africa has taken a significant step toward safeguarding its biodiversity by publishing and implementing the country's first National Biodiversity Offset Guideline. The Guideline, released by the Minister of Forestry, Fisheries, and the...

A new study identified more than 9.9 billion individual trees in the arid region between the wetter savannas and the southern edge of Africa's Sahara Desert. According to the study, which integrated field measurements, machine learning, and...

The African Development Bank (AfDB) announced the issuance of a 1 billion Norwegian krone (NOK) (around €‎900 million) 5-year green bond, due March 2028. This marks the bank's first green bond issuance in the Norwegian krone market, following...