• Africa is emerging as a global leader in supplying carbon credits eligible for use by the aviation industry, according to new analysis from carbon data platform Sylvera, highlighting the continent’s growing importance in international carbon markets ahead of COP31.
• Established by the International Civil Aviation Organization (ICAO), CORSIA requires airlines to offset growth in emissions from international flights covered by the scheme through eligible carbon credits.
• Madagascar leads globally with 44 published authorisations, followed by Nigeria and Rwanda, highlighting the momentum developing across the continent.

Africa is emerging as a global leader in supplying carbon credits eligible for use by the aviation industry, according to new analysis from carbon data platform Sylvera, highlighting the continent’s growing importance in international carbon markets ahead of COP31.

The analysis finds that African countries account for 17 of the 25 distinct projects and programmes with CORSIA-eligible credits globally (68 percent), as airlines prepare to meet significant offsetting obligations under the Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA).

Established by the International Civil Aviation Organization (ICAO), CORSIA requires airlines to offset growth in emissions from international flights covered by the scheme through eligible carbon credits.

Africa emerges as a major force in carbon markets

According to Sylvera’s analysis, African countries are moving rapidly to establish the regulatory frameworks needed to participate in international carbon trading under Article 6 of the Paris Agreement.

Of the 124 bilateral Article 6.2 agreements and memoranda of understanding signed globally, 34 involve African countries, with Ghana leading the world among seller countries in the number of agreements signed.

African countries also account for 80 of the 119 published Letters of Authorization globally. These documents are a critical step in enabling carbon credits to be traded internationally and used towards compliance obligations such as CORSIA.

Madagascar leads globally with 44 published authorisations, followed by Nigeria and Rwanda, highlighting the momentum developing across the continent.

Africa’s emerging leadership marks a significant shift from the Kyoto Protocol era, when the continent accounted for just over 2 percent of projects registered under the Clean Development Mechanism, the predecessor to today’s international carbon market arrangements.

Airlines face significant carbon credit supply challenge

Africa’s growing position comes as airlines face a potential shortage of CORSIA-eligible credits. Sylvera estimates that airlines will require 193 million to 220 million credits to meet their first-phase obligations (2024–2026), yet only around 43 million credits have been tagged as CORSIA-eligible in registries, equivalent to just 19 percent–22 percent of anticipated demand.

While hundreds of millions of additional credits are potentially eligible, further regulatory requirements, including host-country authorisation and safeguards against double counting, must be met before they can be used for compliance.

“Africa is rapidly becoming one of the most important players in international carbon markets. Governments are establishing the frameworks needed to unlock investment, creating opportunities to help meet growing demand for carbon credits,” Carmen Alvarez Campo, International Policy Lead at Sylvera, said.

“With airlines facing substantial offsetting obligations and eligible supply remaining limited, Africa has a significant opportunity to help close the gap. The priority now is translating regulatory progress into investment and credible supply, supported by the transparency and robust accounting needed to build market confidence.”

COP31 offers opportunity to accelerate investment

The findings come ahead of COP31 in Antalya, Türkiye, from 9th to 20th November, where international carbon market implementation will be a key focus.

While Africa’s progress demonstrates the potential for carbon markets to mobilise climate finance, challenges remain around national greenhouse gas inventories, reporting systems and consistent accounting practices.

COP31 presents an opportunity to strengthen international cooperation, address these barriers and accelerate investment in credible carbon reduction and removal projects across the continent.

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