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Mainstreaming Africa in the Market for Emissions

In: The Palgrave Handbook of Carbon Trading in Africa

Author

Listed:
  • Obindah Gershon

    (Covenant University, Department of Economics & Development Studies)

  • Smith Azubuike

    (Durham University, Durham Law School)

  • Ayodele Asekomeh

    (Aberdeen Business School, Robert Gordon University)

Abstract

Carbon trading is predicated on the polluter-pays principle and the Coase theorem, with an implicit assumption that property rights relating to externalities can be valued and priced by market mechanisms. However, recurrent natural resource crises and environmental degradation indicate these mechanisms are not fully accounting for externalities. While Africa faces the consequences of these externalities, it is also uniquely placed as a veritable source of projects for natural emissions removal, reduction or avoidance. The dearth of literature examining Afrocentric factors and the shortcomings of existing carbon trading systems gives us the impetus to seek stronger and better evidence for the sustainable commodification of nature in Africa that will yield emissions abatement. Beyond the trading of carbon permits/credits (to fund green projects and make profits), legal or governance issues which could constrain Africa’s sustainable development must be urgently addressed.

Suggested Citation

  • Obindah Gershon & Smith Azubuike & Ayodele Asekomeh, 2026. "Mainstreaming Africa in the Market for Emissions," Springer Books, in: Obindah Gershon & Ayodele Asekomeh & Smith I. Azubuike (ed.), The Palgrave Handbook of Carbon Trading in Africa, pages 3-11, Springer.
    • Handle: RePEc:spr:sprchp:978-3-032-00934-0_1
    DOI: 10.1007/978-3-032-00934-0_1
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