CSR-in-Action Group, a sustainability advocacy organisation, convened policymakers, investors, private sector leaders and civil society actors at the 14th Sustainability in the Extractive Industries (SITEI) Conference, held virtually on November 25, 2025, to examine Africa’s emerging role in the global carbon economy.
The conference theme ‘From Emissions to Assets: Carbon Accounting, Trading, and Offsetting in Africa’s Extractive Sector’, explored the potential for high-integrity carbon markets to be a new revenue stream for Africa’s extractive sector, in compliance with regulations and contributing to social benefits.
The deliberations examined how people in the extractive sector can turn their environmental responsibility into economic value through reliable carbon accounting systems, participation in the market, and climate projects that benefit the community.
Opening the conference, Dr Bekeme Olowola, chief executive and convener of SITEI, underscored Africa’s strategic position in the evolving climate economy, noting that the continent must assert ownership over its climate agenda and carbon market architecture.
“Africa is no longer a peripheral player in the climate economy. We are increasingly the centre of global attention because of our natural capital, our demographic advantage and our emerging carbon market ecosystem. Africa must define its standards, set its pace and shape the narrative. This is why CSR-in-Action has, for over 15 years, championed the intersection of extractives, community rights, environmental governance and, now, climate finance,” she said.
Also speaking at the event, Femi Oye, co-founder of Kike AI, highlighted the scale of opportunity within the global carbon market and its implications for Africa’s economic future.
“The demand for carbon credits is expected to reach 300 million tonnes by 2030. With this potential, Africa can generate annual revenues of up to six billion dollars. But you cannot manage what you cannot measure. Carbon accounting is the bedrock of credible carbon credits. For Africa’s extractive industries, carbon markets represent a powerful pathway to lead the green transition while creating tangible economic value from responsibility,” he noted.
From a policy perspective, Esther Essien, Deputy Director, Strategy and Innovation Management Department at the Central Bank of Nigeria, emphasised Nigeria’s climate commitments and the need for robust regulatory frameworks to unlock carbon market growth.
“Nigeria aims to reduce greenhouse gas emissions by 20 percent unconditionally and 47 percent conditionally, with international support”, she stated. By 2060, we plan to achieve net-zero emissions. To realise this, we must establish carbon credit integrity standards, strengthen flaring and methane regulations, and provide fiscal incentives that enable cross-border energy and carbon trade frameworks.”
Echoing this position from an investment lens, Chigozie Ejimogu, Head of Sustainability at Verod Capital Management, emphasised the untapped potential in Nigeria’s emerging carbon market.
“There are significant opportunities in carbon credits, and Nigeria remains largely untapped. With the right frameworks for accounting, reporting and verification, companies can unlock new revenue streams, attract climate finance and contribute meaningfully to sustainable development,” he said.
A key highlight of SITEI 2025 was the announcement of a strategic partnership between CSR-in-Action, FuelTree Limited, SMEFunds and Carbon Credit Network Africa (CCNA) for the development of a technology-driven, community-focused carbon accounting system designed to accelerate clean cooking projects across Africa.
Announcing the collaboration, Dr Olowola explained that the initiative aims to transform carbon-intensive community activities into verifiable, investment-ready climate assets.
“We have co-developed a specialised project delivery framework with FuelTree that reflects our expertise in high-integrity emissions measurement and project-based carbon accounting. Through FuelTree’s Virtual Cylinder Recirculation Model (vCRM), emissions reductions become credible financial assets, helping investors tap into Africa’s projected six-billion-dollar carbon opportunity while ensuring Article 6 delivers real community benefits,” she said.
SITEI 2025 reinforced CSR-in-Action’s role as a catalyst for policy dialogue, industry reform and climate innovation within Africa’s extractive sector. Supported by Zenera Consulting and The Good Citizen, the conference emphasised the importance of incorporating integrity, transparency, and community ownership into Africa’s carbon market architecture as the continent gets ready to play a long-term role in the global climate economy.
