The Nuts and Bolts of International Carbon Market in Africa
Scientists have been contending the International Carbon Market agenda in a highly-divided world that frequently forms pockets that produce different waves. This is also backed up by an interesting number of columns that have volunteered to amplify the agenda. Despite the shared stories, this particular theory isn’t well understood by most of the main stakeholders in Africa, who are supposed to drive it.
Who’s to be blamed? The big kahunas’ for not funding our own awareness programs?. This particular agenda is well-spoken and hyper entertained at every dinner table in European countries and some Asian countries like China. No meal is served without the carbon trading agenda. The concept has taken the big fishes’ attention, the attention the Carbon Trading receives in the European countries is so thick that you can cut it with a knife whilst in African countries, this agenda is mostly raised in climate change-related workshops, seminars, webinars and you name it.
The implementation imbalance between Global North and Global South is rested assured as we casually ignore the fact that the global crisis needs to be translated to local implementations. It’s hilarious that we have to add tons of carbon footprints just to fly to dive deeper into how carbon markets operate. Neither I am trying to be political nor scientific correct… NO!, but rather raise an argument and urge the main stakeholders from the governments, policymakers, economists and importantly the scientists in African countries their push their envelopes a bit further.
I am not so far from what the studies say about the “Caps and Trade scheme” that it is excellent in theory but it has proven to fail in practice a couple of times, I’m a big believer that the back and forth and frequent conversations and learning can improve the carbon markets and create new ways on how we imposed a clear economic pattern. The fact that we are not able to stop or control the global north emissions that have a direct catastrophe to the global south then we should at least show an appetite and catch up with the world’s speed. For me, I don’t believe this will be possible until the vast majority of the African leaders see there is a need for collective effort in their governments, policymakers, economists, scientists and communities.
First thing first, the government plays the role of setting the laws, also by facilitating the enhancement of technological systems that will quantify, reduce and monitor emissions in an efficient, transparent fashion manner and permits whilst the policymakers do their homework by coming up with workable policies that mirror all parties.
The economists would help to shorten the customer journey, educate the companies and investors to invest in forests and companies to buy carbon credits from the global south from an economic point of view as to what it means to their numbers and show that the economic patterns by making sure the framework is user friendly. They will also play an incredible role in defining the full range of activities and defined steps, helping in creating the business models that would transform this agenda from idea to reality.
It’s my understanding that the journey to be certified could be a sad one if we don’t have individuals who have wealth of knowledge with a number of years underneath their belt in strategic planning, but then it also takes a lot to have a bankable project that its carbon credits are sold. The entire process to pursue the certification, and get your credits issued for participation in the carbon markets can be hideous at some point. Nonetheless, to be accredited is not enough. The frustration comes with its sustainability and staying true to the course. The practicality is tasted in having a holistic operational framework, reporting framework and monitoring and evaluation system. This business is so many things wrong is not one of them.
On the other hand, the potency of this idea to come to reality is when the communities come on the front line. It’s by enabling them to see a need to fully participate and believe that this mission can change their lives. At least having the vast majority votes of confidence.
While crafting this piece I feel like it’s deja vu, like Tanzania is already practising this and perhaps it’s time this talk to be big. Spotting Carbon Tanzania which is a social enterprise that has overturned conventional landscape conservation in East Africa with its innovative, business approach to protecting forests and wildlife. It makes conservation an economic imperative for people, who need to see tangible benefits from efforts to protect their natural resources. Having met Sarah Borman who serves in the Global Sales and Finance of Carbon Tanzania team as the Marketing and Communications Manager I caught a glimpse of its practicality, in our conversation.
What does it take to understand and also participate in the global carbon market? i.e what does take to develop a bankable project
In order to sell your carbon credits on the international voluntary carbon market, every project has to be certified by a recognisable third-party certification standard such as Plan Vivo and VERRA. These standards set the methodology that a project can use in order to guarantee that the credits a project generate produce real, measurable and permanent credits and that they address additionally, (that the emission reductions wouldn’t have happened without the presence of the project) said, Sarah Borman.
What is the role of the community in helping the carbon Tanzania and how does the community depend on them?
Our projects integrally depend on the involvement of forest communities from the very beginning. Without community buy-in, our projects would not be as successful. The communities develop their land use plans (without which it would be very hard to protect forests) and they determine how best to go about protecting their land (VGS patrols etc, training, education etc). They are also the ones who determine how the revenue is to be used by the community — in this way the communities have complete ownership over the project. Carbon Tanzania is there to guide the development of the project and to make sure the project follows the methodology outlined by the certification standard. Carbon Tanzania also provides the link to the voluntary carbon market. We have relationships with buyers in order to sell the credits and the legal framework to physically sell and retire the credits said, Sarah Borman.
What do you see, in terms of the main stakeholders’ participation like Economists, scientists, government and policymakers?
With the voluntary carbon market expanding rapidly, all of these stakeholders have a role to play to ensure that the project developers are supplying high-quality credits and that the buyers have high-integrity commitments to reducing their emissions to avoid greenwashing and to avoid the risk of jeopardising the integrity of the entire industry said, Sarah Borman.
The future we all have been waiting for is already here. Isn’t just equally distributed. We need more well thought scientific approaches to curb climate change than ever. It’s time we step into our purpose, Africa awaits.
