• Both countries sign an agreement at COP30 to apply Article 6 of the Paris Agreement.

• The deal positions Senegal to access major funding tied to verified emission cuts.

• Norway plans up to $740 million to support mitigation efforts in developing nations.

Norway and Senegal signed an agreement at COP30 in Brazil that paves the way for implementing Article 6 of the Paris Agreement. The cooperation places the West African nation in a mechanism that can mobilize significant financing linked to its verified greenhouse gas emission reductions.

The agreement comes as Norway announced funding of up to $740 million to support mitigation actions in developing countries.

Article 6 of the Paris Agreement offers countries a way to work together to reduce greenhouse gas emissions while improving access to climate finance. Its first component provides guidance that allows mitigation outcomes to be transferred between states, and its second component establishes a United Nations mechanism designed to generate high-quality carbon credits.

Africa already has an operational example that demonstrates the potential of this framework. A project distributing improved charcoal and wood cookstoves to urban, peri-urban, and rural households in Ghana completed its first issuance and sale of international carbon credits under a bilateral agreement between Ghana and Switzerland. This experience shows how a well-structured arrangement can produce tangible results and attract new investment.

According to the International Energy Agency, the African market for energy-related carbon credits grew from $43 million in 2020 to $143 million in 2024. Most transactions come from clean cooking projects. The market remains small globally but is becoming a concrete tool to support clean energy solutions. In this context, the agreement reached at COP30 could give Senegal additional flexibility to develop renewable projects and strengthen its climate action.

Abdoullah Diop