The Economic Community of West African States (ECOWAS) is developing a regional carbon market platform designed to help member states attract climate finance and increase participation in international carbon markets. The proposed platform will establish a harmonised framework for generating and trading high-integrity carbon credits across West Africa. The initiative comes as the region faces an estimated $294 billion climate financing requirement while remaining underrepresented in global carbon markets. ECOWAS says the platform will focus on transparency, environmental integrity, inclusive governance and recognition of member states’ climate efforts, while supporting information sharing, technical capacity and private-sector participation.
Key Overview
- ECOWAS is developing a regional carbon market platform for West Africa.
- The region is estimated to require $294 billion in climate financing.
- West Africa has more than 350 million hectares of agricultural land, alongside forests and mangroves with carbon-credit potential.
- The platform aims to establish a harmonised framework for high-integrity carbon credits.
- ECOWAS began the regional process in 2024.
- The framework is built around transparency, environmental integrity, inclusive governance and recognition of climate efforts.
- Nigeria has already launched its Carbon Market Framework and is developing a national registry.
- The Abuja workshop will review the framework and develop a roadmap for operationalising the regional platform.
ECOWAS Develops Regional Carbon Market Platform
The Economic Community of West African States (ECOWAS) is advancing plans to establish a regional carbon market platform aimed at helping member states attract climate finance and participate more effectively in international carbon markets.
The proposed platform would create a harmonised framework through which countries across the region can generate and trade high-integrity carbon credits.
The initiative was discussed during a three-day regional workshop in Abuja, which brought together representatives of ECOWAS member states, regional and international organisations, development partners and climate experts to validate the framework for establishing the platform.
ECOWAS Commissioner for Economic Affairs and Agriculture Kalilou Sylla, represented by Director for Environment and Natural Resources Christophe Deguénon, said the initiative comes at a time when West Africa faces a significant climate financing gap.
The region is estimated to require approximately $294 billion to meet its climate financing needs.
West Africa’s Carbon Market Potential
ECOWAS says West Africa has significant potential to generate carbon credits but remains underrepresented in international carbon markets.
The region has more than 350 million hectares of agricultural land, alongside extensive forests, mangroves and opportunities to restore degraded landscapes.
Sylla said these resources could support the generation of high-integrity carbon credits.
However, regulatory gaps, limited technical capacity, inadequate tracking systems and certification challenges have restricted the region’s participation in international carbon markets.
The proposed regional platform is intended to address some of these challenges by creating a more coordinated framework for carbon-market development across ECOWAS member states.
$294 Billion Climate Financing Gap
The initiative comes as countries across West Africa face increasing pressure to mobilise funding for climate action.
The ECOWAS Regional Strategy for Access to and Mobilisation of Climate Finance, adopted in 2022, estimated the region’s climate financing needs at $294 billion.
Deguénon said the financing requirement has increased further following updated Nationally Determined Contributions (NDCs) submitted by member states.
Carbon markets are being considered as one mechanism that could help close part of this financing gap by creating additional opportunities to attract investment into emissions-reduction and environmental projects.
Nigeria’s Minister of Environment, Balarabe Abbas Lawal, said carbon markets can help mobilise climate finance while incentivising emissions reductions, supporting sustainable development and creating new opportunities across the region.
Four Principles for the Regional Platform
The proposed carbon market platform will be based on four key principles:
- Transparency
- Environmental integrity
- Inclusive governance
- Recognition of member states’ climate efforts
ECOWAS said these principles are intended to ensure that the regional carbon market develops in a credible and inclusive manner.
The Commission began the regional process in 2024 to develop a harmonised framework for the platform.
The initiative is aligned with the ECOWAS Vision 2050 and the African Union’s Agenda 2063.
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Nigeria Backs Regional Carbon Market
Nigeria has expressed support for the development of the regional platform while continuing to establish its own national carbon market infrastructure.
Lawal disclosed that Nigeria had launched its Carbon Market Framework at COP30, while its national carbon-market registry was under development.
He said a regional platform would complement national initiatives by allowing member states to share information, facilitate peer learning and improve the visibility of West Africa’s carbon-market potential.
Nigeria also believes that a well-designed regional carbon market could help attract climate investment, support nature-based solutions, increase private-sector participation and create green jobs.
Workshop to Shape the Framework
The Abuja workshop is expected to subject the draft regional framework to technical, institutional and legal review before its adoption.
Participants are expected to provide recommendations, approve governance arrangements and develop a roadmap for operationalising the regional carbon market platform.
The draft framework was developed by consulting firm AETS, with support from partners including BDO Carbon and S&P Global, among others.
ECOWAS also acknowledged contributions from carbon-market engagements held in Paris and at UN climate conferences in Dubai and Baku.
The Commission has urged participants to focus on dialogue, consensus-building and the broader interests of the region as they finalise the framework.
Building Regional Carbon Market Capacity
Beyond creating a trading mechanism, ECOWAS expects the platform to strengthen carbon-market capacity across member states.
The regional approach could facilitate the pooling of expertise and experience, reduce transaction costs and improve countries’ ability to develop, monitor and certify carbon projects.
Greater coordination could also help strengthen West Africa’s visibility among international carbon-market participants.
The initiative therefore seeks to move beyond individual national carbon markets by creating a framework that supports cooperation across the region.
Outlook
The proposed ECOWAS regional carbon market platform could provide West African countries with a coordinated mechanism for attracting climate finance and increasing their participation in international carbon markets. With the region facing an estimated $294 billion climate financing requirement and possessing substantial agricultural, forest and mangrove resources, ECOWAS sees carbon markets as an important pathway for mobilising additional capital.
The success of the initiative will depend on the final framework, governance arrangements, technical capacity and ability of member states to maintain transparency and environmental integrity. The Abuja validation workshop represents an important step toward establishing the regional platform and strengthening West Africa’s position in global carbon markets.
Sources: TheCable, Vanguard, Nairametrics, THISDAYLIVE
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