article · Transactions in Energy and Sustainability
With the growing threats of global warming, efforts towards climate justice globally and in Southern and Eastern African governments are gaining momentum in line with the UN Sustainable Development Goal 13 (take climate action). However, in Eastern and Southern Africa regions, there are some hurdles. This study therefore seeks to understand how relevant carbon pricing and markets are in the region’s economic growth and environmental outcomes. It documents regional progress made in carbon emission pricing and markets in line with the Paris Agreement 2015 and the Green Climate Fund (GCF) replenishment and reviews some climate policy designs and pitfalls against effective carbon pricing systems in Sub-Sahara Africa. The study used an in-depth review of relevant literature especially sourced from the NDC sub-sector 2021 database. Data were classified and quantified quantitatively for analysis. The results indicate reasonable progress in the regions to advance Carbon Pricing with magnitudes surpassing the West African regions. South Africa leads in terms of implementing initiatives that will establish carbon pricing. There was inverse negative significance in carbon trading in some West African sub-regions. However, political uncertainty persists and threatens reversals of gains from efforts to attain green economic growth. Carbon pricing and marketing in the region are indicated by carbon taxes, levies, and taxes, the establishment of trading platforms to sell carbon credits, and research funding to deepen knowledge and awareness of carbon trading status among others. However, carbon pricing and legislation progress in the region are threatened by unstable political certainty, lack of political goodwill and institutional frameworks on climate change mitigation; poor capacity of policymakers and countries experts to conceptualize and implement carbon pricing policies, and a general lack of financial systems and financial support to promote climate change mitigation. Five relevant recommendations were made based on the study findings.
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DOI: 10.1177/29768632241291418
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