Africa is one of the regions with the greatest potential to lead nature-based climate solutions. However, its participation in global climate finance mechanisms remains limited. During the recent West Africa Carbon Market Forum, held in Senegal, institutional, technical, and community leaders shared their perspectives on the continent’s challenges and opportunities in carbon markets.
Key figures to understand the context
Despite the commitment of many African countries through their Nationally Determined Contributions (NDCs), participation in international mechanisms remains low:
- Africa has registered only 5% of projects under the Clean Development Mechanism (CDM).
- It accounts for just 1% of global carbon credits issued.
These figures point to structural barriers such as:
📉 Delays in establishing appropriate institutional frameworks
📉 Gaps in technical and financial knowledge
📉 Limited access and effective participation in carbon markets
Toward a fairer carbon market
The forum highlighted the need to strengthen capacities, harmonize subregional efforts, and set clear rules to enable more active and beneficial participation for Africa. The continent is home to vast natural and cultural wealth, along with communities already implementing effective climate mitigation and adaptation practices.
To make carbon markets truly effective, they must be built on:
✅ High integrity standards
✅ Fair pricing mechanisms
✅ Inclusive participation from all actors, including the private sector and civil society
ALLCOT’s participation
ALLCOT took part in this edition of the forum through several of its collaborators, reaffirming our commitment to a carbon market that delivers measurable climate results and tangible social impact. We support solutions built from the ground up—strengthening local capacities and channeling finance toward sustainable and scalable initiatives.
Watch the full video below to hear directly from those shaping the future of carbon markets in Africa.
