Multinational - African Carbon Support Project

The African Carbon Support Project (ACSP) is designed to assist project developers in the continent in accessing carbon finance to ensure the commercial feasibility of their projects. The ACSP represents a major milestone for the AfDB and Africa, particularly because it will help African RMCs to access a greater share of the USD 2-3 billion per annum currently being traded through the Clean Development Mechanism (CDM). It is in line with current efforts by AfDB to establish instruments that will enhance the participation of African countries in the carbon markets. The project will help the Bank, regional members and borrowers to implement the CDM mechanism established by the Kyoto Protocol and reiterated Japan’s commitment to supporting African development through FAPA. Essentially, the program involves a screening process whereby the carbon finance potential of investment proposals received by the Bank is identified and assessed. At the same time, capacity building activities will be undertaken for host country government agencies. The capacity building program will highlight the policy and operational implications of outcomes from current and emerging discussions on global carbon finance frameworks. The program will also seek to highlight research findings in the area of climate change vulnerability and adaptation options.