Africa sees itself as the hub of the future global market for pollution rights

The rules aren’t completely written yet, but the race has already begun. And Africa is not the last on the starting line to take its share of the market for rights to pollute provided for by the Paris agreement in order to give States an additional instrument to achieve their emissions reduction objectives. greenhouse gases.

While at the end of nine years of gestation, the adoption of the final details of this future market is expected during the 29^e Conference of the Parties to the United Nations Framework Convention on Climate Change (COP29), which meets until November 22 in Baku (Azerbaijan), around ten African countries have already signed contracts with industrialized countries.

Leading the way, Ghana has signed bilateral agreements with five countries: Switzerland, Sweden, Singapore, South Korea and Liechtenstein. Its rapprochement with the Swiss confederation is the most advanced since several emissions reduction programs have already been implemented and will give rise to the transfer of several million tonnes of CO equivalent.₂ for the benefit of Switzerland.

“a potential reservoir at a lower cost”

This involves, for example, the dissemination of improved cooking stoves in rural areas or rice growing practices that generate less methane. Switzerland has set itself the objective of reducing its greenhouse gas emissions by 50% by 2030. To achieve this, it plans to relocate 10% of the effort to be made to developing countries by financing emissions reductions at a lower cost than if she achieved them at home.

This choice aims to relieve the transport sector and it is therefore no coincidence that it is to the KliK foundation that the Swiss government has delegated this mission. This manages the compensation of Swiss fuel importers and selects eligible projects around the world for this purpose.

For its part, Ghana benefits, through the sale of these carbon credits, from a source of income to finance development. ” own “ and achieve its energy trajectory. The voluntary commitments made in this respect by developing countries as part of their nationally determined contribution to the Paris Agreement include several levels of ambition depending on the volume of international capital mobilized.

In the case of Kenya, the 32% reduction in its CO emissions₂ by 2030 compared to the current trajectory is conditioned for almost 90% on international financing, corresponding to an investment of 53 billion dollars (49.9 billion euros). The sale of carbon credits should make it possible to go part of the way.

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