Lawyer and former French Minister of the Environment, highlights ๐ญ๐ก๐ ๐๐ฅ๐ข๐ฆ๐๐ญ๐ ๐ญ๐ซ๐๐ง๐ฌ๐ข๐ญ๐ข๐จ๐ง ๐๐๐ง ๐ง๐จ ๐ฅ๐จ๐ง๐ ๐๐ซ ๐ซ๐๐ฅ๐ฒ ๐ฌ๐จ๐ฅ๐๐ฅ๐ฒ ๐จ๐ง ๐๐ฎ๐ง๐๐ข๐ง๐ ๐๐ซ๐จ๐ฆ ๐ญ๐ก๐ ๐๐ฅ๐จ๐๐๐ฅ ๐๐จ๐ซ๐ญ๐ก. The time has come for sovereign approaches, tailored to local realities and aligned with international standards.๐ก ยซ The need to find financing solutions is becoming ever more urgent. It is essential to allow global South countries to put in place the necessary projects […] In this context, the initiative that was taken in Djibouti, and which could well gain a large number of followers in African countries, deserves to be analyzed. ยป – Corinne Lepage
Sovereign carbon initiatives embody this new dynamic. Sovereign Carbon Agency Djibouti is a concrete example, established by a presidential decree in 2023 and grounded in Articles 6.8.b of the Paris Agreement, it combines:
– ๐๐จ๐ฏ๐๐ซ๐๐ข๐ ๐ง ๐๐๐ซ๐๐จ๐ง ๐๐๐ ๐ข๐ฌ๐ญ๐ซ๐ฒ under the independent governance of the Africa Sovereign Carbon Registry Foundation
– ๐๐จ๐ฏ๐๐ซ๐๐ข๐ ๐ง ๐๐๐ซ๐๐จ๐ง ๐๐จ๐ง๐ญ๐ซ๐ข๐๐ฎ๐ญ๐ข๐จ๐ง๐ฌ applied to the aviation and maritime sectors (50% of emissions on arrival or departure), set at $17/tCOโ, directly inspired from the European Union ETS scheme
– ๐๐ข๐ซ๐๐๐ญ ๐๐ข๐ง๐๐ง๐๐ข๐ง๐ ๐๐ง๐ ๐ข๐ฆ๐ฉ๐ฅ๐๐ฆ๐๐ง๐ญ๐๐ญ๐ข๐จ๐ง ๐จ๐ ๐ก๐ข๐ ๐ก-๐ข๐ฆ๐ฉ๐๐๐ญ ๐ฉ๐ซ๐จ๐ฃ๐๐๐ญ๐ฌ: biodiversity restoration, clean water access, waste management, energy transition, healthcare infrastructure, etc
Sovereign Carbon Initiatives comply with strict governance and international carbon accounting standards, enabling the financing of ecological and energy projects that avoid or sequester carbon. ๐๐ฝThe ๐๐ฃ๐ข๐๐จ๐ฎ๐ญ๐ข ๐๐ฅ๐ฎ๐ ๐๐๐ซ๐๐จ๐ง ๐ฉ๐ซ๐จ๐ ๐ซ๐๐ฆ (๐๐๐ฌ๐ญ๐จ๐ซ๐๐ญ๐ข๐จ๐ง ๐จ๐ ๐ญ๐ก๐ ๐๐จ๐ฎ๐ง๐ญ๐ซ๐ฒโ๐ฌ ๐ฆ๐๐ง๐ ๐ซ๐จ๐ฏ๐๐ฌ) will be certified by Verra and respects the Core Carbon Principles โ i.e. quality standards – defined by The Integrity Council for the Voluntary Carbon Market (ICVCM). This program is also the ๐๐ข๐ซ๐ฌ๐ญ ๐๐ฅ๐ฎ๐ ๐๐๐ซ๐๐จ๐ง ๐๐ซ๐จ๐ ๐ซ๐๐ฆ ๐๐ฎ๐ญ๐ก๐จ๐ซ๐ข๐ณ๐๐ ๐๐จ๐ซ ๐๐๐ ๐๐จ๐ซ๐ซ๐๐ฌ๐ฉ๐จ๐ง๐๐ข๐ง๐ ๐๐๐ฃ๐ฎ๐ฌ๐ญ๐ฆ๐๐ง๐ญ, under the ๐๐๐ซ๐ข๐ฌ ๐๐ ๐ซ๐๐๐ฆ๐๐ง๐ญ (๐๐ซ๐ญ๐ข๐๐ฅ๐ ๐.๐ & ๐.๐).
๐ฌ๐ฆ ๐๐๐๐จ๐ง ๐ก๐๐ฌ ๐๐ฅ๐ซ๐๐๐๐ฒ ๐๐จ๐ฅ๐ฅ๐จ๐ฐ๐๐ this path in 2025 setting up the Gabonese Sovereign Carbon Initiative. Other countries could draw inspiration from it, especially in response to the twin environmental and fiscal crises many African states are currently facing.
This mechanism is not a temporary fix, but rather the foundation of a sustainable climate model. By embedding the polluter-pays principle into their national legal frameworks, ๐๐๐ซ๐ข๐๐๐ง ๐๐จ๐ฎ๐ง๐ญ๐ซ๐ข๐๐ฌ ๐๐๐ง ๐๐ฌ๐ฌ๐๐ซ๐ญ ๐ญ๐ก๐๐ข๐ซ ๐ฌ๐จ๐ฏ๐๐ซ๐๐ข๐ ๐ง ๐๐๐ฉ๐๐๐ข๐ญ๐ฒ ๐ญ๐จ ๐๐ข๐ง๐๐ง๐๐ ๐ญ๐ก๐๐ข๐ซ ๐๐๐จ๐ฅ๐จ๐ ๐ข๐๐๐ฅ ๐๐ง๐ ๐๐ง๐๐ซ๐ ๐ฒ ๐ญ๐ซ๐๐ง๐ฌ๐ข๐ญ๐ข๐จ๐ง, without relying on global north funding or the speculative dynamics of voluntary carbon markets.