African Climes

Carbon markets refer to the market mechanisms or economic approaches to solve climate change. The biggest percentage of greenhouse gases is from energy, from which industry and power generation plays a big part. And the greenhouse gas with most consequence is carbon dioxide, which is mainly from the extraction and burning of fossil fuels. Fossil fuels provide about 80% of the energy that supports global economy, making them the biggest culprit in climate change. Therefore carbon markets work by putting a “price” on carbon itself, and so create a market for the trading of carbon. Basically, they put a price on carbon pollution and the cost it has on society. The polluter pays principle charges the polluting entity for emitting carbon dioxide thus encouraging lower emissions. Carbon markets provide green climate finance There are different carbon markets but the main ones are cap and trade and carbon taxes. Cap and trade is a system where there is a cap or limit put on the amount o...

Forests occupy 30% percent and cover about 4 billion hectares of the earth’s surface area. Forests have multiple functions, all of which are beneficial. They absorb carbon dioxide and release oxygen. They hold the soil together and stop soil erosion. They increase soil fertility through humus and organic matter. They increase ground water percolation because their deep roots enable water to travel downwards. Forests provide the source of rivers and surface water. They cool the environment by the release of watervapour in evapotranspiration. Forests attract rain, basically by forming huge dense moisture clouds above them. Forests are the home of 80% of dry land species. They house millions of undiscovered and known flora and fauna. Forests provide medicinal plants, are a source of wood and fuel; and also supplement the human diet. Generally, they support over 80 million jobs (inclusive of tourism, apiculture etc.) and 1.6 billion people and their livelihoods. They provide around 100...