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Zimbabwe is aiming to host Africa’s first carbon-offsets trading platform. However, carbon credits “nationalism” and competing trade hubs across Africa have overshadowed the financial benefits that Zimbabwe and the wider continent could obtain from the global trade in carbon offset deals
A lack of transparency is damaging carbon market reputations across Africa
HIGH PRICE Zimbabwe initially set a high tax on revenue from carbon offset projects, denting appeal
MARKET DISTRACTION Voluntary carbon markets are criticised as a distraction to the climate effort and divert funds from decarbonisation efforts
KEY QUOTE Africa’s brilliant positioning in the global carbon offsets programme could be harmed by excessive demand for equity
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South Africa’s slow and disjointed plan to decarbonise its energy and industrial sectors could prove damaging to its economy, harming its long-term outlook and the future of its citizens
Finance for development initiatives in emerging markets is intrinsically tied to climate change—from new roads and energy infrastructure to transportation and new buildings. Yet despite the billions of dollars in overseas development assistance funding, the promised $100 billion of new and additional climate finance by 2020 has failed to materialise
Urbanisation, rising global living standards and geopolitical tensions are placing enormous pressure on the global energy supply. Energy security and sustainability are critical—but scaling up today’s approach will not be enough. We must invest in industrial energy efficiency on a global scale, says Tarak Mehta from ABB Motion
This week, Policy Dispatch takes a look into Africa’s energy transition, the main hurdles that the continent’s 54 nations are facing, and its untapped renewable potential with Saliem Fakir, Executive Director at the African Climate Foundation
Europe will need considerable amounts of energy storage to add resilience to the grid as renewable penetration increases and to support a significant increase in the number of electric vehicles on the road. But recent commodity price rises are affecting costs for lithium-ion battery systems, creating opportunities for a raft of novel storage options
Finding the most efficient way to pay for the energy transition is not an easy affair—but lawmakers worldwide seem to be increasingly converging on contracts for difference as the mechanism of choice to fund emerging technologies
The major economies of China and the US have identified storage capacity as an industrial priority and are redesigning their markets to incentivise growth. The rest of the world’s economies are trying to compete but will instead need to ride the pair’s coattails to benefit
The ability of consumers to adjust their electricity demand in response to price signals and system operator requirements has a fundamental role to play in the energy transition
