Cover image: Thabo Sibeko at a anti-coal protest during the Standard Bank AGM in Sandton last year.

The whole concept of carbon offsetting is simply another frontier of capital accumulation and profit-seeking based on yet more exploitation and the externalising of environmental costs. We cannot sell nature to save it.

Those who believe that “the market” offers us our best route out of the climate crisis celebrated the launch of the African Carbon Markets Initiative (ACMI) during COP27 in Egypt late last year.

Speaking during the launch of the ACMI, the Vice President of Nigeria and ACMI steering committee member, Yemi Osinbajo, said, “Carbon markets can deliver tremendous benefits for Nigeria and Africa, creating jobs, driving green investment and reducing emissions.”

Read the rest of the article by Neil Overy and Thabo Sibeko here (first published on 10 October 2024):

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