Africa Seeks Clearer Carbon Trading Rules
Negotiators made progress on loss and damage funding for vulnerable nations in Dubai but failed to reach consensus on carbon markets.
LUSAKA, Zambia— The African Group of Negotiators (AGN), representing all 54 African countries, is hailing the creation of a loss and damage fund at the recent U.N. climate conference in Dubai, writes Kennedy Phiri.
But the group says Africa won't engage in carbon trading until ambiguities are resolved.
"We moved the climate change agenda forward, leading to the creation of the loss and damage fund which raised more than half a billion dollars," said Zambian President Hakainde Hichilema, current AGN chair.
But speaking Friday in Lusaka, Hichilema said Africa will not enter the carbon market until it is better structured.
"Africa will not engage in carbon trading not until a number of ambiguities are ironed out," he said.
Hichilema called for agreement on standardized carbon pricing, saying prices now range from $8 to $110 per ton.
He also urged clearer rules on revenue sharing, saying communities involved in carbon trading must get a fair share to mitigate climate change by planting more trees.
Carbon trading allows companies and others to buy and sell credits permitting a certain amount of carbon dioxide emissions.
While Africa accounts for a small share of emissions, it is heavily impacted by climate change.
Negotiators made progress on loss and damage funding for vulnerable nations in Dubai but failed to reach consensus on carbon markets.
African nations seek more transparency and fairer rules before participating.