The UAE Carbon Alliance, chaired by Her Highness Sheikha Shamma bint Sultan bin Khalifa Al Nahyan, President and CEO of the UAE Independent Climate Change Accelerators (UICCA), have signed a non-binding Letter of Intent with the Africa Carbon Markets Initiative’s Advance Market Signal to pledge an indicative intended purchase of US$450 million in African carbon credits by 2030.
The Africa Carbon Markets Initiative (ACMI) is a collaborative effort incubated by Sustainable Energy for All (SEforALL), the Global Energy Alliance for People and Planet (GEAPP), and The Rockefeller Foundation, and rolled out in partnership with the United Nations Economic Commission for Africa (UNECA) and the UN Climate Change High-Level Champions.
Launched during COP27, the initiative aims to create, amplify, and sustain the next generation of high integrity carbon credits in Africa with the ambition to reduce emissions and bring transparency and integrity to voluntary carbon markets in the region. Signatories under ACMI’s Advance Market Signal represent the carbon market buyers and investors interested in purchasing African carbon credits to support the development of African carbon markets.
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