Africa has over 120 carbon market projects up and running or in the pipeline, in areas ranging from wind power to forestry schemes, a new assessment, published today shows.
However, in comparison to the rest of the world, the Continent is still lagging behind, with the potential for clean and green energy largely under-exploited.
Meanwhile, the growth in Clean Development Mechanism (CDM) projects under the Kyoto Protocol remains uneven.
The larger economies such as Egypt and South Africa are still claiming the lion’s share, with 32 and 13 projects respectively.
The exceptions are Kenya and Uganda. The number of projects up and running, or in the pipeline has jumped from two in 2007, to 15 and 12 respectively today.
In comparison, many countries on the Continent such as Zambia; Madagascar; Cameroon and Mali only have one or two. Equatorial Guinea is among several countries which has none.
These are among the findings compiled by the UN Environment Programme’s (UNEP) Risoe Centre for the opening today of the 2nd Africa Carbon Forum.
Achim Steiner, UN Under-Secretary General and UNEP Executive Director, said: “The growth of the carbon markets in Africa are both cause for optimism, and cause for concern. On the one hand, the work of UNEP and a myriad of other partners on capacity building, catalyzing finance and other barrier-breaking initiatives have been bearing fruit among an ever wider range of countries”.
“But in order to realize only a few percentage points more of the massive potential for wind, solar, biomass and waste into energy schemes, action across a range of challenges needs to be stepped up,” he added.