We will continue to work with other jurisdictions “Muthaura: ”
In an exclusive interview with Brightafrica.rw, Paul Muthaura, CEO of the Africa Carbon Markets Initiative (ACMI), discusses the development of carbon market and addressing challenges in Africa.
Christopher Karenzi: As climate change continues to impact economies in African nation, tells as the purpose of this forum?
Paul Muthaura : ‘’Access to your forum is so important for us, because of the Africa carbon initiative, we want to take advantage of situations like this that bring together business leaders across the Continent, as well as private sector, and government leaders, to have an opportunity to discuss about opportunities that come from carbon market being grown, and even on the African continent.
Paul Muthaura, CEO of the AfricaCarbon Markets Initiative “ACMI”
So we are very glad to be able to be here, this morning I was a part of a panel discussing with leaders across the continent, sharing lessons on how these markets can be grown, and learning great insight from the Minister of Environment, she was present, and had to highlight on some of the work which is being done in Rwanda, and we want to see how we can replicate that in other countries in Africa’’.
Christopher Karenzi: What about carbon markets as a tool for economic development in Kenya?
Kenya was one of the first countries with the first carbon market activation plan, and as a Consequence of the law reforms, we were able to flow from that process, Kenya was then rated as the most friendly carbon market on the continent. So we are conscious that is just the starting point, and We will continue to work with other jurisdictions, to make sure that there is a strong coordination with global standards for the carbon market so that we can really make sure that we understand that carbon market is a tool for economic development.
Christopher Karenzi: What can we expect from this CEO Africa Forum of 2024 in Kigali?
Paul Muthaura: The kinds of meetings we have had here with entities like UN Economic Commission for Africa, with Big-scale global investors like DG out of Germany, who are saying okay, how do we work together, to live out to the outcome, to work with us to make sure, we can work with government in coordinated manner, on how to create green industrialization, in an appropriate policies and laws that encourage the use of carbon credit, often some of the costs make the transition expensive, as well as fleeing out capital to invest in many other of unnecessary economic activities in the country, because it is comfort that carbon market can provide the first player of funding.
The 2024 edition of the AFRICA CEO FORUM, organized in partnership with the International Finance Corporation (IFC), a member of the World Bank Group, convened with over 2,000 African private sector leaders and international investors, on 16th -17th May 2024 in Kigali.
The 2024 theme: “At the Table or On the Menu? A Critical Moment to Shape a New Future for Africa,” reflects the urgency for the continent to assert itself on the global stage and actively contribute to discussions shaping its future.
The Africa CEO Forum focused on four transformative agendas: leadership, digital transformation, continental integration and financing.
Christopher Karenzi
