During Climate Week NYC, the Casablanca Finance City Authority (CFCA) reinforced its leadership in sustainable finance by signing two major cooperation agreements aimed at accelerating voluntary carbon markets in Africa—a key step toward closing the continent’s climate‑finance gap.
The first agreement, signed with Madagascar’s Ministry of Environment and Sustainable Development, paves the way for national and regional frameworks that uphold transparency, environmental integrity and sustainable development. This strategic partnership will speed up the creation of carbon projects in Madagascar, one of the world’s largest carbon sinks, and facilitate the entry of carbon credits into the market. A capacity‑building programme will also be launched to provide training for sustainability‑related professions across the carbon value chain. Madagascar’s Minister of Environment and Sustainable Development, Max Andonirina Fontaine, stressed that the partnership aligns with the country’s vision of engaging in carbon markets through ambitious South‑South cooperation, building on momentum generated by the African Carbon Markets Task Force announced at the 2025 African Ministerial Conference on the Environment (AMCEN) in Nairobi.
The second agreement, signed with the International Carbon Reduction and Offset Alliance (ICROA), establishes a framework for closer collaboration to promote robust carbon‑market structures across Africa. The partnership will develop a governance framework tailored to the continent, disseminate ICROA’s best‑practice standards, and provide capacity building for regulators, financial institutions and businesses. Joint research and advocacy efforts will aim to harmonise market rules throughout Africa. CFCA’s CEO, Saïd Ibrahimi, highlighted the significance of this partnership as another milestone in the authority’s long‑term commitment to sustainable finance. ICROA’s Managing Director, Andrea Abrahams, added that while Africa holds unique potential for carbon credits, effective markets require integrity and harmonised oversight structures.
Through these agreements, CFCA reaffirms its role as Africa’s leading green financial centre, channeling investment into sustainable projects and strengthening its commitment to building a competitive, resilient, low‑carbon economy. The partnerships are expected to help address the continent’s $2.8 trillion climate‑finance gap and promote sustainable development across Africa.
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