Harnessing Africa’s Carbon Markets to Advance Climate and Development Goals
Editor's Note
Welcome to your July edition of the Africa Bulletin.
This month, we look into Africa's carbon markets and how countries are harnessing it to advance their climate and developments goals. As the global community intensifies its fight against climate change, Africa is emerging as a key player in the global carbon markets. While still in the nascent stages, the continent’s engagement with carbon trading is growing, driven by innovative initiatives and a burgeoning recognition of the economic and environmental benefits.
Across the region, we focus on ALN Kenya's 70 years of impact, growth, and unwavering commitment to positioning their clients as industry leaders shaping regional and continental development. The firm has evolved alongside Kenya, expanding its clients and their reach across borders and making history in the process.
Our focus also delves into major African business headlines impacting the region and the globe at large. These stories combine with comprehensive reports centred on Africa's trade and economic outlook, sustainable development, infrastructure and urban rail corridors.
As always, we've curated news stories to navigate you through today's business environment, offering a global perspective on the legal issues relevant to your industry.
We are ALN. One region, One vision, One ALN.
Top Story
As the global community intensifies its fight against climate change, Africa is emerging as a key player in the global carbon markets. While still in the nascent stages, the continent’s engagement with carbon trading is growing, driven by innovative initiatives and a burgeoning recognition of the economic and environmental benefits. According to the African Development Bank Group, carbon markets encompass a diverse set of systems regulated across different jurisdictions for trading greenhouse gas pollution rights.
These rights -?called allowances or permits -?are globally traded commodities and give the bearer the right to emit an equivalent amount of CO2 emissions. Carbon Trading in Africa, are generated from avoiding, reducing, or removing greenhouse gas emissions...Read more .
Reports
African Trade and Economic Outlook 2024 | Afreximbank
The report provides an in-depth analysis of the current global and African macroeconomic environment, trade patterns, and sovereign debt sustainability dynamics, as the basis for trade and economic projections for 2025. Through the examination of historical trends, existing and emerging risks, as well as opportunities, the report seeks to foster a deeper understanding of the factors driving Africa’s economic performance and trade patterns, to inform policy design.
It also singles out the implementation of the African Continental Free Trade Area and other initiatives as critical to accelerating industrialisation and promoting sustainable growth across the continent.
Click here to download and read the report.
领英推荐
Africa Sustainable Development Report | UNECA
This report utilises unique country perspectives and evaluates the advancements made by African countries in achieving the 2030 Agenda for Sustainable Development and the African Union Agenda 2063.
The report reflects the commitment of the United Nations, the African Union, and the African Development Bank to support the implementation of the two Agendas in Africa, by taking stock of progress and actionable solutions by member states. Together, these agendas present a cohesive vision and platform for a unified multilateral and regional response to the ongoing global crises that have disproportionately affected African economies.
Click here to download and read the report.
State of Africa’s Infrastructure Report | Africa Finance Corporation
This report elucidates a stark reality: despite decades of achievement, the pace of Africa’s infrastructure development has not kept up with the growing needs of the population. Most of the core infrastructure is centred around legacy redundant pit-to-port models. Such conclusions must spur Africa to reassess its approach and build infrastructure that will instead catalyse economic and structural transformation.
The continent possesses the resources essential for renewable energy technologies and electrification, both critical to the global shift towards a less carbon-intensive future, as well as a resourceful youth ready to drive this change.
Click here to download and read the report.
Developing Urban Rail Corridors in African Cities | World Bank
This report attempts to relate the policy and good practice literature on urban and suburban passenger rail, much of which originates from high- or middle-income countries to the context of developing cities in Africa. It includes case studies from three African cities- Lagos, Maputo, and Nairobi to identify and provide guidance on key issues for developing effective urban rail services in Sub-Saharan Africa.
All three cities use existing railway right-of-way for part or all of their networks. Improving the established right-of-way and assets provides a faster and less costly option than building new ones if coordination challenges can be overcome.
Click here to download and read the report.
ALN Across The Region
Shaping Kenya’s Green Energy Future
Over the past seven decades, ALN Kenya’s expertise across the Projects and Infrastructure industry has empowered clients to navigate complex legal landscapes with confidence. Their unwavering commitment to excellence has not only earned them the trust of their clients but also continues to have a lasting impact on the economy.
In the development of this project, ALN Kenya acted for the sponsors of the 300MW Turkana wind power project, the largest power generation project in Kenya, including structuring, negotiating and drafting the equity financing agreements, guarantees by the Government of Kenya and the ADF, advising on the debt financing with nine funders, reviewing and negotiating various engineering, procurement and supply agreements, advising...Read more .
Thank you for being a part of our community, and we hope you find this edition of the Africa Bulletin informative and inspiring.
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