Africa largest exchange firm moves to tap continent’s carbon market

Points clés à retenir

South Africa is the twelfth-highest emitter of carbon globally and has an increasing need for access to and supply of carbon credits. A South African voluntary carbon market will accelerate the creation of carbon offset projects, help meet the demand for credits by emitters seeking to offset their emissions, increase investment interest in the country, and contribute meaningfully to helping grow the economy and improve sustainability practices. The growth of voluntary carbon markets has been significant, and Africa's carbon credits have been steadily increasing. According to the Atlantic Council, voluntary carbon markets increased four times from 2020 to 2022 surpassing two billion dollars in value – and African credits have seen an average growth of 36% on average over the last five years. This market aims to position South Africa as a contributor to decarbonization and foster economic growth while addressing carbon emissions in the country, which ranks twelfth globally as a carbon emitter.