The Carbon Credits Controversy in Rural Communities in Africa: A Solution or Problem to Fostering Climate Change Mitigation and Economic Sustainability?

Favourate Y. Mpofu
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Favourate Y. Mpofu: University of Johannesburg

Chapter Chapter 7 in Sustainable Finance and Business in Sub-Saharan Africa, 2024, pp 147-173 from Springer

Abstract: Abstract The African continent is highly vulnerable to the impacts of climate change, and the rural communities especially are at greater risk. Carbon credits can be an effective tool for climate change action and promoting sustainable development. Carbon credits offer a promising opportunity for rural communities in the continent to mitigate the impacts of climate change while availing governance, economic and social benefits to improve their daily lives. Carbon credits are created by projects targeting the reduction of greenhouse gas emissions or the mopping of carbon dioxide from the atmosphere. These projects are conducted in different ways that encompass the protection of forests, planting trees and using renewable and cleaner sources of energy, including using sustainable agricultural ways. Using a comprehensive literature review, this study focuses on carbon credits and rural communities in Africa. From the review, it is established that projects towards carbon credits are still embryonic in Africa, yet these offer greater possibilities for addressing climate change impact. Several challenges also emerged from the review. The likely benefits include possibilities of income generation, improved management of natural resources, employment opportunities, improvements in infrastructure and the promotion of sustainable development. Possible challenges concern the unfairness in the distribution of benefits derived from carbon credit projects, lack of inclusion of rural communities to participate in the projects, and the difficulties in implementing, monitoring and verifying the benefits of carbon credits due to lack of technical expertise.

Keywords: Africa; Carbon credits; Rural communities; Sustainable development; Climate change (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-031-74050-3_7

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DOI: 10.1007/978-3-031-74050-3_7

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