ACMI Boosts African Carbon Markets with New Partnerships
NEW YORK CITY | 25-Sept-24
During the United Nations General Assembly, on the dedicated Voluntary Carbon Markets Day, the Africa Carbon Markets Initiative (ACMI) is proud to announce a series of strategic partnerships. These partnership announcements are taking place during New York Climate Week, further emphasizing the importance of carbon markets in addressing climate change.
Strengthening Carbon Market Integrity
ACMI is pleased to join forces with three key stakeholders in the African carbon market ecosystem:
- Voluntary Carbon Markets Integrity Initiative (VCMI)
- Integrity Council for the Voluntary Carbon Market (ICVCM)
- International Emissions Trading Association (IETA)
These partnerships underscore ACMI’s commitment to prioritizing transparency, inclusivity, and ethical trading of carbon credits – the foundational elements of strong market integrity. Through collaboration, ACMI will further promote the importance of these principles among market actors, ultimately fostering greater trust and confidence in African carbon markets.
Building on this commitment, ACMI recently hosted a successful webinar exploring how upholding integrity contributes to the scaling of carbon markets.
Quote from our CEO
“Our objectives at ACMI are to support African governments in creating conducive policy and regulatory environments for introducing and scaling high-quality, high-integrity carbon markets and the empowerment of local project developers, ecosystems and communities to catalyze demand and support equitable allocation of credit revenues.
However, we cannot achieve this in isolation. We are encouraged by the efforts to facilitate a continental approach to carbon markets with the AU Commission, UNECA and AfDB. Firm ownership and guidance by these continental institutions will serve to engender much-needed carbon market policy and framework coordination across African countries.
This coordination is central to the strengthening of transparency, inclusivity, and equity within respective African carbon markets and projects, and more equitable pricing of African-sourced credits.
To inform this continental approach, I am proud to announce ACMI’s partnerships with ICVCM, VCMI, and IETA, who respectively and collaboratively work to progress integrity standards within the carbon markets globally. This collaboration affirms that upholding integrity is the starting point, not a complementary goal, in scaling carbon markets.”
Quotes from Key Stakeholders
“Our partnership with ACMI strengthens our work with governments to use voluntary carbon markets to access climate finance, unlocking significant economic, environmental, and social benefits. Voluntary carbon markets offer a powerful, but currently under-used tool for channeling finance to developing economies. Working with ACMI, we will assist governments in overcoming technical and practical challenges so that high-integrity VCMs can deliver real benefits and impact in the region.” – Lydia Sheldrake, Director of Policy and Partnerships, VCMI
“IETA’s collaboration with the African Carbon Markets Initiative (ACMI) signifies our commitment to growing and strengthening voluntary carbon markets across Africa. We are dedicated to working towards a shared vision of carbon market solutions, fostering trust and integrity, and contributing to the development of robust rules and guidelines that benefit local communities.” – Andrea Abrahams, Managing Director – VCM at IETA.
About the Africa Carbon Markets Initiative (ACMI):
The Africa Carbon Markets Initiative(ACMI) is a collaborative effort supported by a coalition of organizations committed to expanding African carbon markets as a catalyst for green development, job creation, prosperity, and equality for the benefit of both people and the planet. The initiative aims to meaningfully scale high-integrity, equitable and transparent carbon markets in Africa by addressing the challenges to voluntary and compliance carbon market growth as well as the obstacles hindering Article 6 carbon trading. By making carbon markets a viable financial tool for African nations, ACMI works to accelerate just and sustainable energy transitions and realize environmental, developmental and economic benefits for local communities.
Media Contacts:
Adesola Adikatu Balogun
Communications Assistant, Africa Carbon Markets Initiative
Email: adesola.balogun@seforall.org
