Africa Carbon Credit Exchange to be launched

Africa Carbon Credit Exchange

THE Africa Carbon Credit Exchange (ACCE) is next year expected to launch trading activities to enable firms participate in the global carbon markets.

ACCE’s vision is to create a global market mechanism that enables cost-effective greenhouse gas emissions reduction and a vibrant carbon offset market.
Company chief executive officer Sabera Khan said the launch of the exchange is dependent on Parliament approving the commodities and exchange bill.
In an interview in Lusaka, Ms Khan said the exchange has partnered with Afriexim Bank of Egypt, United Nations, United Nations for Economic Commission for Africa and Government to help African countries to access funds to reduce the impact of climate change.
Ms Khan said although the exchange is in the formative stage, it has a number of key partnerships with international organisations and memoranda of understanding have been signed.
She said the exchange is currently finalising structures and systems to have the exchange in place.
“We are in the process of putting together structures and systems with the help of Government and we hope we can launch it next year,” she said.
Ms Khan said there is need for Government to expedite the presentation of the bill to enable the firm register with Securities and Exchange Commission in readiness for the trading activities to commence.
Commenting on supply of credits for the exchange, Ms Khan said there is need to address current constraints to carbon project development.
The exchange provides innovative services and solutions to unravel the complexities of carbon markets and address the prevailing barriers to their success in Africa.
She said the exchange also provides a one-stop shop for African offset projects to access the linkages, knowledge and technical expertise to bring clarity to the complex carbon markets and facilitate the project financing necessary to make low-carbon Africa a reality.
The ACCE is a leading African-owned and managed market place uniquely designed to enable Africa’s participation in the global carbon markets.
The exchange is unlocking low carbon Africa by creating a reliable, structured and transparent trading platform for buying and selling compliance and voluntary carbon credits created in Africa – and in doing so, driving environmentally sustainable economic growth on the continent.