UNDP, Sylvera launch Carbon Data Access Partnership during 38th AU Summit - Economy
This collaboration aims to enhance African governments' access to essential carbon market insights, empowering them to make informed policy and investment decisions.
Under this partnership, Sylvera will provide African governments with insights into over 21,000 carbon projects. These comprehensive data will enable officials to better understand existing and planned carbon initiatives within their territories.
By facilitating access to data, CaDAP aims to empower countries to engage more effectively with carbon markets, particularly in the context of Article 6 of the Paris Agreement. This would unlock crucial carbon finance.
'Africa has a critical role in the journey to net zero. Partnering with UNDP amplifies our mission by harnessing their extensive reach and expertise to deliver transformative carbon insights that drive climate action and economic growth,' said Sylvera CEO Allister Furey.
"UNDP is committed to utilizing credible and comprehensive data for informed policy and investment decisions," said Ahunna Eziakonwa, assistant UN secretary-general and director of the UNDP Africa Bureau.
"Through this partnership, we hope that African governments can effectively engage with carbon markets," Eziakonwa added.
Moreover, the CaDAP ensures that African carbon credits are valued fairly in global markets.
Despite the continent's vast potential for high-integrity carbon projects, its credits have often been undervalued due to a lack of transparent data and standardized rating mechanisms.
By providing governments with insights on project performance and environmental impact, the CaDAP will enhance the credibility of African carbon credits, attract higher-value investments, and advocate for pricing that reflects their actual climate and development benefits.
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