In a landmark move for West Africa, the government of the Republic of Guinea is set to establish the region’s first formal carbon pricing scheme, backed by consultancy firm Ricardo. The program, which targets the mining sector, will make Guinea the first country in Africa to introduce a “sector-based” Carbon Pricing Instrument (CPI).
Ricardo experts helped Guinea strengthen its climate ambition, including by revising the nation’s Nationally Determined Contribution (NDC) under the Paris Agreement, and designing the CPI alongside building a national carbon registry, authorization framework, and governing institutions.
The initiative positions Guinea as a potential frontrunner in Africa’s climate finance evolution. Currently, much of Africa’s participation in carbon markets remains on the voluntary side, with only a handful of countries exploring regulated carbon pricing tools. As it stands only South Africa has an operational national carbon tax.
Growing interest
The move also reflects increasing regional interest. Many West and Central African nations have in recent years mentioned carbon pricing in policy frameworks (like this one from the UNFCCC) or NDC documents, even if few have progressed beyond planning.
This new CPI in Guinea could unlock major climate-finance flows. A robust carbon pricing or trading system may provide either domestic government revenue or exportable carbon credits, a lucrative route given growing global demand.
Beyond this high-profile assignment, Ricardo remains active in a broad array of environmental and strategic consulting services worldwide, from advising governments on emissions policy to supporting climate adaptation and clean-energy planning.
In prior years it has worked across continents, helping public and private clients navigate the transition to lower-carbon economies, design environmental regulations, and develop sustainable infrastructure projects.
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