In January 2023, our Co-Founder, Bilha Ndirangu was appointed as a member of the technical committee on developing Kenya’s carbon market frameworks and Article 6 implementation.
Emerging climate research unequivocally emphasizes the importance of carbon sequestration efforts as a century-defining responsibility. To successfully mitigate global warming and stay within the limits set by the Paris Agreement, it is imperative to implement innovative Carbon Dioxide Removal (CDR) technologies. These technologies must achieve a 100-fold increase in annual carbon capture by 2030 and a staggering 2000-fold increase by 2050 for us to limit global warming below 1.5°C with little to no overshoot. The next decade will therefore be crucial for the development and deployment of novel CDR initiatives.
Kenya’s President William Ruto launched the African Carbon Markets Initiative (ACMI) at COP27, in November 2022. Led by a 13-member steering committee of African leaders, CEOs, and carbon credit experts, ACMI aims to dramatically expand Africa’s participation in voluntary carbon markets.
ACMI objective is to:
- Grow African carbon credit retirements ~19-fold from 2020 to ~300 MtCO2e per an. By 2030 and up to 1.5-2.5 GtCO2e by 2050
- Create/support 30m jobs by 2030 through the carbon project development, execution, certification, and monitoring.
- Raise the quality and integrity of African credits to mobilize up to US$6 billion by 2030 and more than US$100 billion per annum by 2050.
- Ensure equitable and transparent distribution of carbon credit revenue, with a significant portion of revenue going to local communities.