Carbon credits produced in Africa and utilised by the private sector to offset their emissions should be at least 20 times more expensive than current prices, according to the Democratic Republic of Congo’s President Felix Tshisekedi and Republic of Congo’s President Denis Sassou Nguesso. A higher price would, they believe, dampen appetite for resource extraction and spur development in poorer countries, particularly those on the continent. Tshisekedi called for a carbon credit floor price of at least $100 per ton of carbon dioxide or its equivalent, compared to the going average of $5.
