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Carbon World News: South Africa.

Today is Friday, October 27,2023.


Last October 12 it was South Africa that launched its voluntary carbon market (VCM) through the Johannesburg Stock Exchange (JSE) in collaboration with Xpansiv.


JSE Ventures is the name of the separate legal entity created, from where customers will be able access Xpansiv's global platform for spot trading, auctions, or requests for quotes for both carbon offsets and renewable energy certificates.


According to the press release, "South Africa is the twelfth highest emitter of carbon globally and has an increasing need for access and supply of carbon credits. A South African voluntary carbon market will accelerate the creation of carbon offset projects, help meet the demand for credits by emitters seeking to offset their emissions, increase investment interest in the country, and contribute meaningfully to helping grow the economy and improve sustainability practices".


African credits have seen an average growth of 36% over the last five years, according to an article by the Atlantic Council from last June.


By the way, worth quoting the first phrase of that article: "Corporations are in a unique position to responsibly engage in the “wild west” that is the carbon-offset market, all while supporting Africa’s rising low- and middle-income populations."


"Carbon-credit prices currently lack standardization, with prices being determined by the type or specific characteristics of the credits. They typically range from under four dollars per ton for lower-quality credits, often renewable energy projects, to over one hundred dollars for higher-quality credits, mainly tons removed from the atmosphere through carbon-removal technologies such as direct air capture. However, with large-scale removal technology still in development stages, removal projects accounted for just 3 percent of all projects issuing credits in 2022. In recent years, low-priced or “junk” credits have flooded the market, enabling dozens of companies to claim carbon-neutral status while only making limited environmental impact".




And at the image below to read the press release about the South African VCM stock exchange .




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 CARBON CREDIT MARKETS

“Nothing in life is to be feared, it is only to be understood. Now is the time to understand more, so that we may fear less.”

“I am among those who think that science has great beauty”

Madame Marie Curie (1867 - 1934) Chemist & physicist. French, born Polish.

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