In a decisive communique issued on Wednesday following a high-level dialogue in Lusaka, experts from Kenya, Senegal, and Zambia called upon sub-Saharan African nations to fortify regional collaboration in the development of carbon market frameworks. The meeting underscored the escalating challenges individual countries face in establishing robust national market structures, advocating for a collective approach as a viable solution.
The dialogue, convened in Zambia’s capital, highlighted the significant hurdles that many African countries encounter in the nascent stages of carbon market development. The communique stressed the importance of mutual learning and the creation of foundational elements that could be seamlessly integrated into national frameworks across the region.
“This includes the exchange of experiences and the development of building blocks, which may be appropriated in national carbon market frameworks,” the communique noted. It further recommended that countries designate a suitable institution to spearhead this crucial regional collaboration, underscoring the need for an authoritative body to guide and harmonise efforts across borders.
The deliberations reflected a growing recognition among sub-Saharan nations of the carbon market’s potential as a pivotal instrument for financing low-carbon development. However, the communique acknowledged that while some countries have embraced this potential, others remain hampered by a lack of comprehensive understanding of the associated costs, benefits, and requisite investment volumes. This knowledge gap, it warned, is impeding the cost-effective implementation of nationally determined contributions (NDCs).
Furthermore, the dialogue called for the establishment of national carbon registries and greenhouse gas inventories. Such infrastructure is essential not only for accurately measuring emissions but also for rigorously assessing the efficacy of mitigation activities and policies. These tools, the communique suggested, are indispensable for countries striving to meet their climate commitments efficiently and transparently.
The high-level dialogue in Lusaka represents a critical step towards a more integrated and collaborative approach to carbon market development in Africa. By pooling resources and expertise, African nations may yet overcome the formidable challenges that stand in the way of their low-carbon aspirations.
