Carbon markets are here but lack regulation
Carbon markets are gradually gaining traction in Uganda, presenting opportunities for biodiversity, climate conservation, innovation, and wealth creation for participants. These markets facilitate carbon pricing mechanisms that allow governments and non-state actors to trade greenhouse gas emission credits, helping to achieve climate targets.
According to Robert Turyakira, the deputy executive director of Environment Shield, the global carbon trade is now valued in the billions of dollars, although it is still relatively new in Uganda. Currently, many participants operate within an unregulated framework, often leading to low margins for sellers of carbon credits.
