The First Africa Voluntary Carbon Credits Forum – an important event to attend despite controversial content.
The Africa Voluntary Carbon Credits Market (AVCCM) held its inaugural forum in Victoria Falls, Zimbabwe, from the 5th to the 7th of July 2023, intending to promote the voluntary carbon market and raise awareness about climate change mitigation in Africa. The event attracted a diverse audience, including government officials, investors, project developers, and experts worldwide. Although there were several last-minute changes in the official program and questionable surprises among speakers and the messages delivered, it was an important event to attend as a developer of carbon credits in Africa, to educate, learn and monitor. The Chief Climate Officer & Co-Founder of 1MT Nation (1MTN), Anete Garoza, was one of the panelists sharing her views and knowledge about the importance of private sector involvement, transparency, and learnings of bridging Africa and carbon markets.
Key Takeaways:
1. Private Sector Involvement in Carbon Market Regulation:
Governments can ensure effective and efficient carbon market frameworks that foster sustainable environmental management by including the private sector in the decision-making process.
2. Africa's Role in the Voluntary Carbon Market:
Africa carries a substantial role in the voluntary carbon market. The continent has immense potential for carbon credit projects, and its active participation can significantly mitigate climate change.
3. Learning from Mistakes:
Acknowledging and rectifying previous shortcomings in carbon credit projects can enhance future initiatives' effectiveness and credibility. This emphasis on continuous improvement is crucial to maintain the integrity of the voluntary carbon market.
4. Partnerships on Multiple Levels:
There is an immense necessity for partnerships across various levels, including communities, project developers, standards organizations, governments, and financial institutions. Collaboration and cooperation between these stakeholders can foster the growth and success of carbon credit projects, ensuring their alignment with sustainable development objectives.
5. Remote Sensing and Real-Time Data:
Remote sensing technologies and real-time data must be available for effective carbon project monitoring. By leveraging these tools, project developers and regulators can ensure transparency, accurate reporting, and efficient verification of carbon credits, instilling confidence in the market.