The growing climate crisis exerts immense pressure on governments across the world to develop solutions aimed at climate mitigation and climate adaptation. However, the majority of these so-called solutions are designed to allow historic and top per capita emitters to protect their interests and continue business as usual. These approaches promoted by governments and multilateral institutions as mainstream ‘solutions’ are profit-driven initiatives that prioritize profits over people and the environment.

Corporations and global North governments are the major promoters of market-based mechanisms as “solutions” for Africa to unlock climate finance. It is crucial to challenge this narrative as market-based solutions divert the primary responsibility of climate mitigation from the global North to poor African countries who are the least emitters. The global North, having the largest share of historical and current per capita emissions, should take lead in emissions reduction, providing unconditional financial and technological needs to African nations for their adaptation to the adverse effects of climate change.

This primer seeks to dismantle the myths surrounding market-based mechanisms particularly carbon trading as a solution to the prevailing climate crisis. It provides a comprehensive exposition and systematically critiques the structural flaws of carbon trading and examines implications to communities in Africa and the environment. Finally, it advocates for an alternative path: rights-based, people-centered climate action that prioritizes the wellbeing of people and ecosystems over corporate profits.