Development of Carbon Credits in the Congo Basin: Current Status, Climate Finance Challenges and Prospects in COMIFAC Countries

Abstract

In the face of intensifying climate change, carbon market mechanisms are emerging as key instruments for mobilizing climate finance in favor of developing countries. The member countries of the Central African Forest Commission (COMIFAC), which host the Congo Basin the world’s second-largest tropical forest play a crucial role in global climate regulation and carbon sequestration. This article provides an overview of the current state of carbon credit development in COMIFAC countries. In this study, “carbon credit development” is defined as the set of processes including: (i) the establishment of policy and institutional frameworks, (ii) the preparation and implementation of carbon projects, (iii) the generation and certification of carbon credits, and (iv) the mobilization of associated financing. The study is based on a documentary and institutional analysis drawing on sources from international organizations, scientific publications, and regional reports. The results show that, despite considerable ecological potential, the effective integration of COMIFAC countries into carbon markets remains limited. This situation is mainly explained by weak institutional frameworks, land tenure uncertainties, high certification costs, and still insufficient technical capacities in measurement, reporting, and verification (MRV) of emissions. The analysis also distinguishes between different carbon financing channels, including voluntary carbon markets, results-based REDD+ payments, and mechanisms under Article 6 of the Paris Agreement, which present varying requirements and levels of maturity across the region. The study highlights the need to strengthen public policies, institutional capacities, and governance mechanisms in order to enable countries in the region to better leverage their forest capital in carbon markets.