Sustainable Development through Carbon Credit Projects: Case of Ethiopia
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Date
2024-05-04
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A.A.U
Abstract
Sustainable development remains a pressing global imperative, demanding innovative strategies
to mitigate climate change while fostering economic growth and environmental conservation.
Ethiopia, as a developing nation, grapples with the dual challenge of advancing its economy while
addressing environmental degradation. In response, Ethiopia has increasingly turned to carbon
credit projects as a mechanism to align economic development with ecological sustainability.
However, there remains a critical gap in understanding the comprehensive impacts, challenges,
and opportunities presented by these initiatives within Ethiopia's socio-economic and
environmental context. This study aims to fill this gap by conducting a rigorous empirical analysis
of carbon credit projects in Ethiopia. Through a mixed-methods approach including direct
observations, interviews with key stakeholders, surveys, and secondary research, the study
investigates the effectiveness of carbon credit projects across environmental, social, and economic
dimensions. It assesses the awareness levels among Ethiopian society, evaluates tangible outcomes
on environmental sustainability and economic development, identifies best practices and challenges
encountered, and examines the alignment of these projects with the United Nations Sustainable
Development Goals (SDGs). Key findings reveal significant strides in environmental conservation
through afforestation and renewable energy adoption, supported by initiatives such as the Oromia
Coffee Producers Union's successful carbon credit sales. Challenges identified include funding
gaps, regulatory barriers, and capacity limitations, which hinder project scalability and
effectiveness. Recommendations focus on leveraging Ethiopia's abundant solar resources,
transitioning to renewable energy, enhancing institutional frameworks for transparency and
accountability, scaling afforestation efforts, and implementing innovative water management
solutions. Ultimately, this research underscores the transformative potential of carbon credit
projects in Ethiopia, offering actionable insights for policymakers, practitioners, and stakeholders
to advance sustainable development goals while fostering a resilient and inclusive society for
future generations.