VCMI partners with the Government of Benin to enhance national climate goals
April 8, 2025 (London, United Kingdom) – The Government of Benin and the Voluntary Carbon Markets Integrity Initiative (VCMI) today announce a partnership to enhance Benin’s climate strategy and increase flows of finance through the development of a robust, high-integrity voluntary carbon market. This will help Benin realise goals set out in its nationally determined contribution (NDC) climate strategy.
The West African nation is one of the most climate-vulnerable countries globally. Under a business-as-usual warming scenario, Benin will be one of the most exposed countries to extreme temperatures by 2070. Already, climate hazards have impacted Benin’s nature, water resources, and food security. To achieve its climate adaptation and mitigation objectives, and finance its NDC, the country will need €10 billion between now and the end of the decade. Benin has a significant emissions reduction potential of nearly 50Mt CO2eq by 2030, with agriculture and energy sectors representing the lion’s share of that decarbonization potential*.
Mrs Adidjatou Hassan, Deputy Chief of Staff of the Minister of Economy and Finance at the Government of Benin, said: “Benin, under the leadership of President Patrice Talon, is taking bold steps to turn climate challenges into opportunities for sustainable growth. Through the partnership between Benin’s Carbon Registration Authority (“Autorité d’Enregistrement des Projets Carbone”) and VCMI, we are strengthening the integrity of carbon markets as a vital tool to mobilize climate finance, enhance energy security, and support our farmers, who are on the frontlines of climate change. This initiative will not only help us meet our NDC goals but also create lasting benefits for our people and future generations.”
The Government of Benin has partnered with VCMI, as part of its Access Strategies Program, to leverage carbon credits from local projects to increase climate funding aligned with the country’s Sustainable Development Goals (SDGs). The project will prioritize the agriculture and energy sectors which together account for more than 90% of the nation’s greenhouse gas (GHG) emissions. Focusing on national-scale carbon projects within these sectors will allow Benin to mitigate climate risks while enhancing food security and energy independence, improving social and environmental outcomes for its population of 13 million (2024).
Today’s announcement was made as part of at the West African Regional Stock Exchange’s (BRVM) Investment Days roadshow at the London Stock Exchange. VCMI has partnered with sustainability and impact advisory firm ORI Partners to work closely with the Government of Benin to ensure effective integration and governance of high-integrity carbon markets within Benin’s national climate plan, as one tool among many to finance its NDC. Project outputs will include a decision-making matrix tool which will facilitate engagement with the voluntary carbon market in a way that engages investors, fosters capital inflows for strategic climate projects, and clarifies the role of project developers and other stakeholders within the system. This tool will serve as a lasting resource for policymakers, attracting high-quality project developers to Benin in the long term and enhance market transparency.
Lydia Sheldrake, Director of Policy and Partnerships at VCMI, said: “We are delighted to partner with the Government of Benin to scale local carbon projects that advance climate prosperity. High-integrity carbon markets are a powerful tool to help drive green and just transitions, especially in countries vulnerable to climate change. By promoting economic growth alongside environmental and social resilience, Benin is poised to lead on climate finance in Africa and beyond.”
Following the establishment of a national climate program in 2018, Benin has already developed robust carbon and sustainable development frameworks. This project will build on these foundations, ensuring finance flows are scaled via flourishing, high-integrity carbon markets. Stakeholder engagement throughout the project will enhance capacity building and improve coordination among key Ministries responsible for carbon finance. This project will elevate carbon markets as a key financing mechanism in delivery of Benin’s NDC, while simultaneously bolstering institutional capacity and inter-ministerial coordination.
Benin also took centre stage as the guest country at the West African Regional Stock Exchange’s (BRVM) Investment Days Roadshow. The BRVM connects eight member states in the West African Economic and Monetary Union (WAEMU) Benin, Burkina Faso, Côte d’Ivoire, Guinea-Bissau, Mali, Niger, Senegal and Togo.
The CEO of the BRVM, Dr Edoh Kossi Amenounve, said: “I am delighted that the BRVM Investment Days could play a role in announcing this significant initiative. This forum is the ideal platform for this announcement because we showcase regional opportunities to institutional investors and financial institutions. Benin’s commitment to creating a high-integrity, impactful and investable carbon market is an ideal example of this. The BRVM is fully committed to furthering sustainable and climate finance initiatives as this is a cause we are championing in the West African Economic and Monetary Union.”
To learn more about VCMI’s Access Strategies Program, click here.
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Notes to editors:
· * Benin’s 2021 NDC – excluding forestry. · The recent partnership announcement between the government of Benin and the Voluntary Carbon Markets Integrity Initiative took place on 8 April at the BRVM Investment Days Roadshow held at the London Stock Exchange. BRVM Investment Days is an exclusive investor forum designed to foster a strategic dialogue between players in the West African Economic and Monetary Union (WAEMU) financial market and international investors on regional investment opportunities. The Roadshow is a unique opportunity to meet with the WAEMU Authorities, the BRVM and its listed companies and key financial players for valuable insights into the market.
About VCMI The Voluntary Carbon Markets Integrity Initiative (VCMI) is the issuing body behind the ‘Carbon Integrity’ mark. It is an international non-profit organization with a mission to enable high-integrity voluntary carbon markets (VCMs) that deliver real and additional benefits to the atmosphere, help protect nature, and accelerate the transition to ambitious, economy-wide climate policies and regulation. www.vcmintegrity.org
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