ACMI initiative launched during COP27 Conf.

The UN announced the launch of the Africa Carbon Markets Initiative (ACMI) on Tuesday as part of COP27 UN Climate Change Conference.

The initiative was launched on Tuesday with the aim of dramatically expanding Africa’s participation in voluntary carbon markets.

It was launched by a 13-member steering committee of African leaders, CEOs, and carbon credit experts, in collaboration with The Global Energy Alliance for People and Planet (GEAPP), Sustainable Energy for All (SEforALL), and the UN Economic Commission for Africa, with the support of the UN Climate Change High Level Champions – Mahmoud Mohieldin and Nigel Topping.

ACMI announced a bold ambition for the continent, to reach 300 million credits produced annually by 2030. This level of production would unlock six billion in income and support 30 million jobs.

Multiple African nations, including Kenya, Malawi, Gabon, Nigeria and Togo, shared their commitment to collaborating with ACMI to scale carbon credit production via voluntary carbon market activation plans.