Carbon Industries Group Partners with Senegal on Carbon Credit and Biodigester Projects
Carbon Industries Group has partnered with the Government of Senegal to advance carbon credit initiatives, including a plan to restore 79,000 acres of mangrove forests, which could generate up to USD 800 million in carbon credits over 22 years. Additionally, the collaboration will implement 27,000 household biodigesters as part of Senegal's National Domestic Biogas Program, with the government retaining some emissions credits for climate reporting. These projects align with Senegal's efforts to engage in international carbon markets and climate finance.
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Carbon Industries Group has signed two agreements with the Government of Senegal to enhance its position in the carbon credit market. The first, a memorandum of understanding, involves restoring approximately 79,000 acres of mangrove forests, potentially generating USD 550 million to USD 800 million in carbon credit revenues over 22 years, pending verification and market conditions.
The second agreement supports a ten-year rollout of 27,000 household biodigesters under Senegal's National Domestic Biogas Program. The government will retain a portion of emissions credits for its climate reporting, with the potential for international transfer under Article 6.2.
Senegal is actively engaging in international carbon markets and climate finance, collaborating with countries like Switzerland and Norway. If successful, these initiatives could yield over USD 500 million for Carbon Industries Group.
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