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African nations commit to new initiative to scale up voluntary carbon markets

Issue 472 - 10 Nov 2022 - By Ajay Ubhi | 2 minute read

The Africa Carbon Market Initiative (ACMI) was formally launched at the COP27 climate conference in Egypt, with the aim of generating 300m carbon credits a year by 2030, which would lead to $6bn in revenue. Several African countries – including Kenya, Malawi, Gabon, Nigeria and Togo – have signalled their intention to collaborate with ACMI, to scale up their voluntary carbon markets (VCM).

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