Africa has taken a major leap toward climate leadership with the launch of the Africa Carbon Support Facility (ACSF)—a transformative platform designed to scale carbon markets and climate finance across the continent. Unveiled during the African Development Bank’s 2025 Annual Meetings in Abidjan, the ACSF is central to Africa’s carbon neutral strategy and growing ESG ecosystem.
The ACSF supports the African Union’s Carbon Market Strategy through five pillars:
- De-risking carbon credit supply
- Stimulating global demand
- Building robust market infrastructure
- Strengthening supportive policies
- Attracting private capital
Dr. Kevin Kariuki, AfDB’s VP for Climate and Green Growth, emphasized that carbon finance must serve communities, not just corporations. “We aim to unlock billions while ensuring local impacts,” he said.
Panelists from DBSA, ARM-Harith, UNECA, and the Children’s Investment Fund Foundation stressed the need for data integrity, equitable benefit-sharing, and regulatory clarity. Financial institutions were urged to take the lead in shaping carbon credit ecosystems that are scalable, investible, and trustworthy.
Dr. Hanan Morsy, UNECA Chief Economist, noted that transparent data and smart risk-sharing tools are essential for mobilizing institutional investment. Income from carbon credits, she emphasized, should directly benefit local communities.
The ACSF reflects a broader shift in the global carbon economy—from aspirational pledges to actionable ESG frameworks. Africa is not just joining the carbon market conversation—it is actively reshaping it.
By embedding equity, trust, and measurable impact into its carbon neutral strategy, Africa signals its readiness to lead in climate finance, offering a powerful model for emerging economies worldwide.
Sources:
https://esgnews.com/africa-advances-carbon-market-strategy-to-drive-climate-finance/
