A standardized and harmonized greenhouse gas protocol to support carbon market integrity and investment in climate-resilient economic activity in Congo Basin Climate Commission member countries

Abstract

This study explores the challenges and opportunities in developing carbon markets in the Congo Basin, a region crucial for global climate regulation due to its vast carbon sinks. Despite its environmental importance, Africa, and particularly the Congo Basin, receives minimal financial support for its carbon sequestration efforts. The study highlights key barriers, including limited institutional capacity, low carbon prices, and weak market integrity. To address these issues, the research proposes the creation of a standardized and harmonized protocol for greenhouse gas (GHG) emissions accounting, reporting, and verification, aimed at enhancing market integrity and boosting investment in green and blue economies. The study also suggests sector-specific guidelines to facilitate carbon offset projects in the region, thereby improving carbon market efficiency and supporting the Congo Basin Climate Commission’s efforts to meet global climate commitments.