Carbon credits: A useful lever, or magical thinking?

By Marie Toulemonde
Posted on Friday, 11 November 2022 08:45

Opinions differ on carbon credits, which will be at the heart of discussions at COP27. On paper a powerful tool. In reality, say some, it is more akin to 'Magical thinking'...

On 7 October, Gabon obtained UN certification for 187 million carbon credits, one of the largest in the world. In Kenya, a specific stock exchange for this market will be set up soon. Projects are proliferating across the continent. The use of this strategic carbon pricing instrument, more commonly known as “offsetting”, will be at the heart of the COP27 discussions.