BACKGROUND
The West African Alliance On Carbon Markets And Climate Finance (hereafter ‘WAA’ or the ‘alliance’) is an initiative of sixteen west African countries aimed at promoting a sub-regional approach to enhanced carbon market participation and access to international climate finance.
It was launched at COP22 in Marrakech in 2016. From 2017 until 2024, Alliance support has focused on strengthening technical capacities at the sub-regional and national level, providing opportunities for networking and peer-to-peer exchange and advising on governance frameworks in the context of Article 6 readiness.
The International Emissions Trading Association (hereafter ‘IETA’) is a non-profit organisation representing businesses committed to smart, well-designed and effective carbon markets to help achieve the goals of the Paris Agreement and reach net-zero emissions by 2050. IETA works in collaboration with stakeholders to develop and promote broad participation in effective market-based trading systems for GHG emissions and reductions.
As an initiative within IETA, the Business Partnership for Market Implementation (hereafter ‘B-PMI’) aims to support the World Bank’s Partnership for Market Implementation (PMI) programme in promoting the implementation of carbon pricing instruments for the achievement of NDCs and long-term decarbonization strategies, including through the engagement in international carbon markets and Article 6.
As international rules for Article 6 are becoming increasingly clear and pioneering countries set precedents, many of them are prioritising Article 6 to attract investment in support of national climate policy goals. Some member countries have adopted national governance frameworks for Article 6 activities. At the sub-regional level, several actors are now emerging. A key priority in the coming years is to strengthen the Alliance’s support for member countries’ carbon market readiness implementation and facilitate private sector stakeholder action. In this spirit, the West Africa Carbon Market Hub aims to facilitate public and private sector partnerships for carbon market opportunities and enhance private sector and development partner engagement in West Africa.
The first edition of the West Africa Carbon Market Hub took place in Abidjan, Côte d’Ivoire in September 2023. This second edition of the West Africa Carbon Market Hub is co-organised by the Alliance, IETA’s B-PMI, with support from the UNFCCC RCC for West and Central Africa, the West African Development Bank (BOAD), the Global Green Growth Institute (GGGI), and Voluntary Carbon Market Initiative (VCMI).
For more information visit the Alliance website here: westafricanalliance.org
FULL AGENDA (subject to updates)
