Nature-based solutions present a unique way for Africa to accelerate the implementation of the SDGs and Agenda 2063 while contributing to the conservation of continent’s rich biodiversity, promoting ecological connectivity, and enhancing climate resilience, said Antonio Pedro, Deputy Executive Secretary, the Economic Commission for Africa (ECA), today at the African Natural Capital Alliance Annual Summit held in Nairobi, Kenya.

Speaking leaders in the financial markets sector, Mr. Pedro said, “With careful design of its development pathway, Africa can harness the value of its natural resources through responsible management practices that recognize planetary boundaries and balance economic growth with environmental conservation and social equity, beyond GDP metrics.”

Referencing a study by the ECA and Dalberg, Mr. Pedro said Africa could mobilize $82 billion per annum if the price of carbon reached $120 per tonne of CO2. However, there is a need to eliminate market fragmentation and invest in building high integrity carbon credit markets. (Press Release)