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ACMI Showcases Strides: Accelerating Climate Action and Sustainable Growth in Africa

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The Africa Carbon Markets Initiative (ACMI) proudly presents its significant progress and achievements in 2023, reinforcing its commitment to climate action, sustainable development, and addressing climate change impacts in Africa.

By sharing its accomplishments, ACMI reinforces support for African carbon markets and acknowledges global progress at COP28.

1. Comprehensive Carbon Market Activation Plans (CMAPs):
ACMI collaborates with seven African countries, developing robust Carbon Market Activation Plans (CMAPs), focusing on regulations and policies for voluntary and compliant carbon markets. Kenya leads this initiative, emphasizing integration into broader climate strategies.

2. International Commitments and Investments:
ACMI secures $1 billion in signed intent for purchasing African carbon credits and pledges $250 million for high-integrity African credit projects by 2030. These commitments enhance investor confidence and signal demand, adhering to ACMI’s integrity principles and promoting accredited net-zero targets.

3. Diesel/Petrol Generator Set Phase-Out Methodology Concept Note:
ACMI’s Gold Standard-approved methodology concept note is a pivotal step for scaling carbon revenues in clean energy. The methodology supports phasing out fossil fuel generator sets and directing finance to renewable energy replacements.

4. ACMI Showcase: First-Ever African Carbon Credit Project Listing:
ACMI develops the first-ever African carbon credit project listing, featuring 100+ projects across 25+ countries. Emphasizing transparency and community benefit sharing, the ACMI Showcase boosts buyer confidence in the African carbon credit supply.

Paul Muthaura, CEO of ACMI, notes, “Our achievements result from significant partnerships and collaborative efforts. With supporters and partners, we advance towards a stronger African carbon markets ecosystem.”

ACMI’s Vision for Carbon Markets: A Transformative Force for Good
ACMI’s Narrative on African Carbon Markets underscores the transformative potential of carbon markets in financing sustainable development in the Global South. The voluntary carbon market, valued at ~$2 billion in 2022, is expected to grow substantially, generating income, jobs, and green investments in Africa.

As ACMI shapes the future of carbon markets in Africa, these achievements mark a significant milestone in the collective effort to combat climate change and drive sustainable development across the continent.

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