Carbon Credits Market Access for Smaller-Scale Clean Energy Projects
In recent years, there has been remarkable growth in the demand for carbon credits from Africa, surpassing global growth rates in this sector. Despite the region’s strong potential, accounting for about 11% of global carbon credit issuance but tapping into only 2% of its maximum potential, efforts are underway to unlock this untapped market. Notably, just five countries contribute to around 65% of the total issued credits, with Kenya leading at 23%. However, the market displays fragmentation, with a limited number of project developers mainly focusing on forestry and land use, renewable energy, and household devices, which collectively account for roughly 97% of issued carbon credits.
