By Abbas Nazil
Africa is strategically positioned to gain significantly from the growing global carbon trade market, according to Ibrahim Shelleng, Senior Special Assistant to the President on Climate Finance and Stakeholder Engagements.
Shelleng made this assertion during a panel discussion at the maiden Carbon Markets Africa Summit held in Johannesburg, South Africa.
He explained that Africa’s vast natural resources and emission reduction potential give it a comparative advantage in the emerging carbon market, provided that the continent establishes strong regulatory and policy frameworks.
According to him, Article 6 of the Paris Agreement presents a unique opportunity for African nations to influence global carbon pricing mechanisms and ensure equitable participation in the market.
He emphasized that developing domestic carbon market policies backed by legislation would enhance investor confidence, attract private capital, and guarantee fair benefit-sharing for local communities rather than concentrating profits in the hands of international buyers.
Shelleng also called for integrating carbon markets into Nationally Determined Contributions (NDCs) and National Development Plans (NDPs) to access much-needed climate finance and meet national development targets.
He highlighted the importance of transparency, accountability, and robust Measurement, Reporting and Verification (MRV) systems to build credibility and prevent exploitation similar to what occurred in extractive industries.
According to him, Africa could mobilize over $6 billion annually in climate finance by 2030 through effective carbon market participation while generating more than 30 million jobs for its growing youth population.
Shelleng urged African nations to align their national strategies with global standards ahead of COP30, strengthen capacity-building initiatives, foster regional cooperation, and promote high-integrity, Africa-led carbon projects that deliver both community and climate benefits.
The summit brought together investors, policymakers, and developers to discuss how Africa can leverage carbon trading to advance sustainable development and decarbonization.