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Hundreds of millions of dollars pledged for African carbon credits at climate summit
A climate summit in Nairobi garnered significant financial commitments, including $450 million in carbon credit purchases by the United Arab Emirates (UAE). African nations' leaders are making concerted efforts to attract market-based financing instruments, including carbon credits, to mitigate the impact of climate change. The global offset market, valued at around $2 billion in 2021 and predicted to reach between $10 billion and $40 billion by 2030, faces challenges in gaining traction due to investors' concerns about the region's perceived risk.
Date: 2023-09-05
Tags: Africa Carbon Finance Climate Investment
Publisher: Reuters