The African Development Bank (AfDB) hosted a pivotal high-level dialogue this week on “De-risking and Scaling Carbon Market Investments in Africa,” signaling the continent’s bold move to redefine its role in global climate finance.
Held during the Bank’s 2025 Annual Meetings in Abidjan, the event drew senior leaders from the Bank, global institutions, private sector, and civil society to explore Africa’s untapped potential in carbon markets. The session was moderated by Prof. Anthony Nyong, Director of Climate Change and Green Growth at AfDB.
Dr. Kevin Kariuki, AfDB Vice President for Power, Energy, Climate, and Green Growth, set the tone by framing the moment as pivotal: “This is a space where ideas meet action, principles meet policy, and financing meets Africa’s future.”
At the center of the discussions was the Africa Carbon Support Facility (ACSF), a new initiative designed to unlock billions in climate finance by supporting high-integrity carbon markets. It aligns with the African Union’s Carbon Market Strategy and focuses on de-risking supply, stimulating demand, and strengthening policy frameworks.
Emphasizing the crucial role of carbon markets in improving resilience and generating economic opportunities the executive director of the Fund for Responding to Loss and Damage Ibrahima Cheikh Diong said: “When global emissions are reduced, there is less loss and damage… We must promote complementarity; no single institution can do everything.”
Echoing this, Paul Muthaura, CEO of the Africa Carbon Markets Initiative, called for “coordinated action and investment.”
Panelists emphasized embedding carbon markets within national development plans. “Income streams should also trickle down to communities,” said Dr. Hanan Morsy of UNECA.
New president for the African Development Bank
The event also saw the election of Dr. Sidi Ould Tah of Mauritania as President of the African Development Bank Group. Chosen by the Bank’s Board of Governors, Tah secured the required majority from both regional and non-regional members.
With over 35 years of financial experience, including a decade leading the transformation of The Arab Bank for Economic Development in Africa, Tah vowed to get to work immediately, declaring, “Let’s go to work now, I’m ready!” His leadership marks a pivotal moment for the Bank’s future direction.
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