The Untapped Potential of Great Green Wall Voluntary Carbon Market Projects 2024

Endnotes 1. World Economic Forum, Archipel&Co & Regenopolis. (2022). The Untapped Potential of Great Green Wall Value Chains: An Action Agenda to Scale Restoration in the Sahel. https://www.weforum.org/publications/the-untapped-potential-of- great-green-wall-value-chains-an-action-agenda-to-scale-restoration-in-the-sahel/. 2. Ibid. 3. BloombergNEF. (2024). Carbon Credits Face Biggest Test Yet, Could Reach $238/Ton in 2050, According to BloombergNEF Report. https://about.bnef.com/blog/carbon-credits-face-biggest-test-yet-could-reach-238-ton-in-2050- according-to-bloombergnef-report/. 4. Niang, I., Ruppel, O. et al. (2014). Africa. Intergovernmental Panel on Climate Change. https://www.ipcc.ch/site/assets/ uploads/2018/02/WGIIAR5-Chap22_FINAL.pdf. 5. International Committee of the Red Cross. (2022). Sahel: A food crisis fueled by conflict is set to worsen during lean period. https://www.icrc.org/en/document/sahel-food-crisis-fueled-conflict-set-worsen-during-lean-period - _ftn3 . 6. United Nations Office for the Coordination of Humanitarian Affairs (OCHA). (2023). Burkina Faso, Mali & Western Niger – Humanitarian Snapshot. [Infographic]. https://reliefweb.int/report/burkina-faso/burkina-faso-mali-western-niger- humanitarian-snapshot-16-october-2023. 7. British Red Cross. (2022). Africa food crisis. https://www.redcross.org.uk/about-us/what-we-do/international/africa-food- crisis. 8. Alliance Sahel. (2023). Adaptive social protection in the Sahel: a vital preparation for times of crisis. https://www.alliance- sahel.org/en/news/protection-sociale-adaptative-sahel/ - :~:text=Participants%20reiterated%20the%20importance%20 of,adaptation%20measures%20are%20not%20taken. 9. United Nations Convention to Combat Desertification (UNCCD). (2024). Great Green Wall Initiative. https://www.unccd.int/ our-work/ggwi. 10. United Nations Development Programme (UNDP). (2023). Great Green Wall Homegrown Solutions to Accelerate Climate Action and Development. https://www.undp.org/africa/stories/great-green-wall-homegrown-solutions-accelerate-climate- action-and-development. 11. Africa Carbon Markets Initiative (ACMI). (2024). Status and Outlook Report 2024-25. https://africacarbonmarkets.org/wp- content/uploads/2024/07/ACMI_Status-and-Outlook-Report-2024.pdf. 12. World Economic Forum. (2022). The Untapped Potential of Great Green Wall Value Chains: An Action Agenda to Scale Restoration in the Sahel. https://www3.weforum.org/docs/WEF_1t.org_Sahel_GGW_Value_Chain_Action_Agenda_2022.pdf. 13. Nature-based carbon removal credits are carbon credits generated from nature-based solutions, which through project activities such as tree planting remove carbon from the atmosphere and store it in its natural systems. 14. Criticisms of the market have been in regard to claims of greenwashing, land grabbing and displacement of communities, as well as scepticism over whether offsets have any environmental worth. Sources include: –Carbon Market Watch. (2023). Zeroing in on greenwashing: How corporations misuse net zero pledges. https:// carbonmarketwatch.org/2023/03/09/zeroing-in-on-greenwashing-how-corporations-misuse-net-zero-pledges/. –Sky News. (2022). Congolese farmers barred from own land for tree planting project by French oil giant Total Energies. https://news.sky.com/story/congolese-farmers-barred-from-own-land-for-tree-planting-project-by-french-oil-giant- total-energies-12766904. –The Guardian. (2023). Carbon credit speculators could lose billions as offsets deemed worthless. https://www. theguardian.com/environment/2023/aug/24/carbon-credit-speculators-could-lose-billions-as-offsets-deemed- worthless-aoe. 15. Afforestation, reforestation and revegetation (ARR) is a climate solution that involves planting trees and shrubs. 16. Procton, A. (2024). State of the Voluntary Carbon Market 2024. Ecosystem Marketplace. https://3298623.fs1. hubspotusercontent-na1.net/hubfs/3298623/SOVCM 2024/State_of_the_Voluntary_Carbon_Markets_20240529 1.pdf. 17. High-integrity removal credits are credits generated from carbon projects that remove carbon from the atmosphere through activities such as tree planting and have sustainable and beneficial socio-economic outcomes for communities. The ICVCM’s core principles can be considered as criteria for high integrity. 18. BloombergNEF. (2024). Carbon Credits Face Biggest Test Yet, Could Reach $238/Ton in 2050, According to BloombergNEF Report. https://about.bnef.com/blog/carbon-credits-face-biggest-test-yet-could-reach-238-ton-in-2050- according-to-bloombergnef-report/. 19. Africa Carbon Markets Initiative (ACMI). (2024). Status and Outlook Report 2024-25. https://africacarbonmarkets.org/wp- content/uploads/2024/07/ACMI_Status-and-Outlook-Report-2024.pdf. 20. Manolis, V. (2024). New Report: The Voluntary Carbon Market Contracted in 2023, Driven by Drop-off in Transactions for REDD+ and Renewable Energy. Ecosystem Marketplace. https://www.ecosystemmarketplace.com/articles/report-the- voluntary-carbon-market-contracted-in-2023-driven-by-drop-off-in-transactions-for-redd-and-renewable-energy/. The Untapped Potential of Great Green Wall Voluntary Carbon Market Projects 28