| dc.description.abstract | In response to calls for more ambition to address climate change, carbon markets have emerged as
pivotal mechanisms, enabling the trading of credits to curb global emissions and catalyze financial
support for development initiatives. Despite their significance, concerns persist regarding the
transparency of existing carbon markets, prompting exploration into blockchain technology as a
potential solution. This study delves into the practical considerations for implementing blockchain
to augment transparency in both established and emerging carbon credit markets across Africa.
Employing a Decision Framework for blockchain adoption and the Decision-Making Trial and
Evaluation Laboratory (DEMATEL), the research aims to provide project developers with
informed insights into the suitability of blockchain solutions and the key factors enabling its
adoption as an alternative market framework. The study also endeavors to devise a conceptual
model for a blockchain-backed carbon trading market, designed to strengthen the transparency and
efficiency of transactions, data aggregation, and National Determined Contributions (NDCs)
tracking, while aligning with the global architecture of carbon monitoring and reporting at the
UNFCCC. Findings reveal that smart contracts, data security and privacy, regulatory frameworks,
and transparency emerge as key enablers influencing blockchain adoption. These insights offer
guidance to policymakers and project developers in Africa, providing essential data points to
catalyze discussions and propose measures aimed at overcoming barriers to blockchain adoption
on the continent, thereby facilitating enhanced transparency in carbon markets. | en_US |
