“Carbon markets can unlock billions in finance for the continent”
“How is it possible that in 2025, when we are able to send people to the moon, when we are able to create driverless vehicles, we’ve not been able to solve the problem of cooking energy in Africa’s rural areas?” asks Maxwell Gomera, Resident Representative of UNDP South Africa and Director of the Africa Sustainable Finance Hub.
He continues: “This is something that is within our means. And as the United Nations Development Programme (UNDP) Africa Sustainable Finance Hub, we are now working with governments across Africa on how to solve such problems. High-integrity carbon markets can offer Africa a powerful tool to mobilise finance required to advance climate action and ensure fair benefits while driving sustainable and inclusive development.”
Carbon markets unlocking billions
“Africa no longer waits for promises to be kept—we act,” Mr Gomera adds. “Carbon markets can unlock billions in finance, strengthen our institutions, and accelerate both Agenda 2063 and the Paris Agreement’s 1.5°C goal. At UNDP’s Africa Sustainable Finance Hub, we believe in a unified continent ready to harness this opportunity, own its solutions, and lead the global transformation towards resilience and prosperity.”
The UNDP is the official host partner of the upcoming Carbon Markets Africa Summit CMAS), taking place in Johannesburg from 22 to 23 October, gathering the continent’s entire carbon markets value chain, from successful early carbon market movers, climate-finance-ready projects and regulatory bodies to global institutional development organisations and investors.
“We cannot continue talking about Africa’s potential. We must make that potential a reality,” says UNDP’s Maxwell Gomera. “The Carbon Markets Africa Summit matters, because we bring together like-minded people to strengthen the ecosystem around a problem that we all share and provide solutions. Our message is: Tomorrow is worth fighting for.”
The UNDP is making important contributions to the Carbon Markets Africa Summit programme:
CARBON 101
As part of the CARBON 101 pre-summit masterclass on 21 October, UNDP Carbon Market Programme Specialist Bernardin Uzayisaba will facilitate a session on “Why carbon markets matter – and why Africa’s timing is critical.” There is already a lot of interest in this masterclass by delegates who will gain a foundational understanding of global carbon markets—both voluntary and compliance—and their evolving mechanisms: what they are and how they work. In addition, he will explore the global architecture shaped by Article 6 of the Paris Agreement and Africa’s emerging role in a system that’s rapidly evolving.
Day 1: Keynote session
– Maxwell Gomera, Resident Representative of UNDP South Africa and Director of the Africa Sustainable Finance Hub will deliver a keynote address in the CMAS opening session on 22 October.
– Sandra Lindström, Head of International Climate Cooperation, Swedish Energy Agency, a UNDP partner, is another keynote speaker in this session, as she explains: “Sweden has been active in carbon markets for over two decades and we believe that Article 6 of the Paris Agreement has an important role to play in enabling increased global climate ambition. Our long-standing partnerships in Africa are being ramped up to include cooperation on emissions trading with strong sustainable development contributions”.
Turning policy into action
As African countries transition from climate ambition to implementation, regulatory clarity is emerging as the cornerstone of carbon market development. UNDP Carbon Market Programme Specialist Bernardin will moderate the discussion on “Africa’s carbon market frameworks: Turning policy into action” in this session, which will explore how national frameworks are evolving post-COP29, what integration of Article 6 looks like on the ground, and how public-private collaboration can drive effective execution.
NBS & AFOLU discussion
In the sector-focused dialogue on nature-based solutions and AFOLU, Mr Uzayisaba will also join the expert panel discussion to explore carbon methodologies, investment models, policy frameworks, and the role of communities in delivering high-integrity, land-based carbon outcomes.
African companies entering carbon markets
On Day 2, Tomas Sales, Special Advisor for UNDP Africa Sustainable Finance Hub, will co-lead the workshop on “How African companies can enter the carbon market.”
This workshop is designed for African corporates and SMEs looking to understand the business case for engaging in carbon markets.
[Read the full interview with UNDP’s Maxwell Gomera here.]
VUKA Group
Carbon Markets Africa Summit is organised by VUKA Group, which has more than 20 years’ experience in serving the business community across Africa. The United Nations Development Programme (UNDP) is the official host organisation.
Other partners and sponsors for this inaugural event include the following:
Strategic institutional partners: AUDA NEPAD and UNEP.
Diamond sponsor: TASC
Gold sponsors: FSD Africa, SGS and Trees for the Future
Event dates and location:
Dates:
21 October: Pre-summit day
22–23 October: Summit
Location: Johannesburg, South Africa
Event website: About — Carbon Markets Africa
