Green groups skeptical as Africa Climate Summit raises hundreds of millions in carbon credits
An initiative at Africa’s first climate summit to boost production of the continent’s carbon credit program by nearly 20 times by 2030 brought pledges of hundreds of millions of dollars.
United Arab Emirates (UAE) investors pledged to purchase $450 million worth of Africa Carbon Markets Initiative (ACMI) credits. ACMI was launched at COP27 in Egypt last year.
“We must see in green growth, not just a climate imperative but also a fountain of multi-billion dollar economic opportunities that Africa and the world is primed to capitalise,” said President of Kenya William Ruto, as Reuters reported...
Environmental groups denounced the focus on carbon credits at the Africa Climate Summit (ACS) in Nairobi, Kenya, which was attended by almost 25,000 delegates and more than 30 heads of state.
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