According to a World Bank report released last year, “State and Trends of Carbon Pricing 2020”, there has been significant progress in the fight against global warming, but there is much more to be done. More than 70 countries have committed to working toward net zero emissions by 2050, and to enhance their international climate pledges under the Paris Agreement. How these government and private sector pledges will be translated into action will be crucial in ensuring whether global warming can be confined to below two degrees Celsius. Carbon emissions trading, including “cap and trade” systems, are key ways of reducing emissions. Africa accounts for only two per cent of trading in the global carbon market, with South Africa and Nigeria leading the way. There are, however, moves on the continent to increase the number of carbon reduction investment opportunities. The African Development Bank (AfDB) has launched a two-year technical assistance programme – the African Carbon Support Programme – but startups are also beginning to play their part, which is an extremely positive, if still embryonic, development.
SOURCE: DISRUPT AFRICA
More Stories
African and Global Firms Contribute towards Harris’ Empowerment Fund
The Main Winners in Nigeria’s Botched Currency Overhaul are Two Chinese-owned Fintech Apps
The Growing Opportunities that African Pharmaceuticals Present
Africa’s Extraction and Export of Raw Materials is Rising
Accra’s Plan on a Debt-free Life
Mauto is Preparing Benin—and Africa—for an e-bike Ride
Rwanda’s Long History of Mining
Disease Stops Trade in East Africa’s Border Towns
A Marketplace for Medical Equipment in Addis
South African Rate Hike Exceeds All Expectations
At the Coalface of the Green Revolution, but Earning Crumbs
Harris Stresses that U.S. Interests in African Nations Extends beyond Competing with China