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This handbook provides a comprehensive guide to the economics, law and governance of carbon pricing in Africa. It explores carbon trading in Africa and sets the agenda for its adoption through robust economic policies, effective governance, contextualised policies and regulations. The specific challenges to carbon trading in Africa, the market mechanisms, laws and regulatory policies required to foster sustainable development within the continent are highlighted, with a particular focus on the energy, manufacturing and forestry sectors. The economic context underpinning carbon trading, the inclusion of Africa within global carbon trading schemes, forestry economics, the legal requirements of carbon trading, and the political economy of carbon pricing are also discussed.
This book offers a practical framework for emission trading and the green transition within Africa, which brings together ideas and approaches from across economics, law, and finance. It will be relevant to students, researchers, and policymakers interested in environmental and development economics.
Obindah Gershon is Chair of the Centre for Economic Policy and Development Research, Covenant University. He is also Associate Professor of Energy and Sustainability Economics at the Department of Economics and Development Studies, Covenant University. He holds a PhD from University of Dundee’s Centre for Energy, Petroleum, Mineral Law and Policy (CEPMLP), United Kingdom. Additionally, he is a Visiting Professor at Eduardo Mondlane University, Mozambique, University of Cape Coast, Ghana, and African Economic Research Consortium (AERC).
Ayodele Asekomeh is Principal Lecturer and Head of Finance Subject Group, Aberdeen Business School, Robert Gordon University. He holds a PhD in Accounting and Finance and is a Senior Fellow of the Higher Education Academy (Advance HE). A multiple Chartered Accountant with Big-4 experience, his work considers the interactions and discourses among state actors, investors and other stakeholders on financing, accountability, governance, sustainability and risk in the energy and extractive industries in the context of climate action.
Smith I. Azubuike is Director, Climate and Sustainability, and Assistant Professor of Energy Law at Durham Law School, Durham University. Smith is a dual-qualified lawyer in Nigeria and a member of the NEA Global Forum on Nuclear Education, Science, Technology and Policy, Working Group 5. He is also a Fellow at the Centre for Sustainable Development Law & Policy (CSDLP), at Durham Law School and a Fellow of the Durham Energy Institute (DEI). Smith’s teaching and research focus on energy law and sustainability, risk allocation in the energy sector, renewable energy law and the energy transition. Smith previously served as the Book Reviews Editor of Edinburgh University Press’ Global Energy Law and Sustainability journal.
List of contents
1. Introduction – Emissions Pricing in Africa.- 2. Emissions Pricing – African Perspective.- 3. Cross-regional Carbon Trading in Africa.- 4. Carbon Trading and Energy Sector.- 5. Carbon Trading and Transport Sector.- 6. Carbon Trading and Built Environment.- 7. Carbon Trading and Manufacturing Sector.- 8. Carbon Trading and Agricultural Sector.- 9. Carbon Trading and Mineral Sector.- 10. Land Economics and Carbon Trading in Africa.- 11. International Financial Economics of Carbon Trading in Africa.- 12. Civil Society and Carbon Trading in Africa.- 13. Nature-based Solution to Climate Change and Carbon Trading in Africa.- 14. Legal Regimes for Carbon Trading in Africa: Kyoto Protocol to the Paris Agreement.- 15. Domestic Legal Regimes for Carbon Trading in African Countries: What is the State of Play.- 16. Regulatory Tools for Mainstreaming Carbon Trading: Regulating Carbon market and dealing with regulatory capture.- 17. Contractual Mechanisms in Carbon Trading.- 18. African Leadership in Carbon Justice: How can African countries lead in carbon mitigation to avoid injustices?.- 19. Data Collection MPGs and Carbon Trading in Africa.- 20. Environmental Accounting Standards and Carbon Trading in Africa.- 21. Digital Linkages of Carbon Trading in Africa.- 22. The Equator Principle and Carbon Trading in Africa.- 23. AfCFTA and Carbon Trading.- 24. EU CBAM and Carbon Trading in Africa.- 25. Political-Economic Dimensions of Carbon Trading in Africa.- 26 Conclusion.
About the author
Obindah Gershon is Chair of the Centre for Economic Policy and Development Research, Covenant University. He is also Associate Professor of Energy and Sustainability Economics at the Department of Economics and Development Studies, Covenant University. He holds a PhD from University of Dundee’s Centre for Energy, Petroleum, Mineral Law and Policy (CEPMLP), United Kingdom. Additionally, he is a Visiting Professor at Eduardo Mondlane University, Mozambique, University of Cape Coast, Ghana, and African Economic Research Consortium (AERC).
Ayodele Asekomeh is Principal Lecturer and Head of Finance Subject Group, Aberdeen Business School, Robert Gordon University. He holds a PhD in Accounting and Finance and is a Senior Fellow of the Higher Education Academy (Advance HE). A multiple Chartered Accountant with Big-4 experience, his work considers the interactions and discourses among state actors, investors and other stakeholders on financing, accountability, governance, sustainability and risk in the energy and extractive industries in the context of climate action.
Smith I. Azubuike is Director, Climate and Sustainability, and Assistant Professor of Energy Law at Durham Law School, Durham University. Smith is a dual-qualified lawyer in Nigeria and a member of the NEA Global Forum on Nuclear Education, Science, Technology and Policy, Working Group 5. He is also a Fellow at the Centre for Sustainable Development Law & Policy (CSDLP), at Durham Law School and a Fellow of the Durham Energy Institute (DEI). Smith’s teaching and research focus on energy law and sustainability, risk allocation in the energy sector, renewable energy law and the energy transition. Smith previously served as the Book Reviews Editor of Edinburgh University Press’ Global Energy Law and Sustainability journal.
Summary
This handbook provides a comprehensive guide to the economics, law and governance of carbon pricing in Africa. It explores carbon trading in Africa and sets the agenda for its adoption through robust economic policies, effective governance, contextualised policies and regulations. The specific challenges to carbon trading in Africa, the market mechanisms, laws and regulatory policies required to foster sustainable development within the continent are highlighted, with a particular focus on the energy, manufacturing and forestry sectors. The economic context underpinning carbon trading, the inclusion of Africa within global carbon trading schemes, forestry economics, the legal requirements of carbon trading, and the political economy of carbon pricing are also discussed.
This book offers a practical framework for emission trading and the green transition within Africa, which brings together ideas and approaches from across economics, law, and finance. It will be relevant to students, researchers, and policymakers interested in environmental and development economics.
