The government has generated about $1.5 million (Rwf2.2 billion) from the sale of carbon credits, while the government has registered 29 projects seeking to tap into the growing carbon market. Faustin Munyazikwiye, Deputy Director-General of the Rwanda Environment Management Authority (REMA), disclosed the figures at a press conference on September 16, ahead of the Carbon Markets Africa Summit, scheduled for October 13-15, 2026, in Kigali. “So far, REMA has registered 29 projects on the carbon market, which are at different stages of development,” Munyazikwiye said. ALSO READ: How investors can tap into Rwanda’s carbon market “Some are at the level of being sold, while others are still being verified by external auditors. So far, Rwanda has generated $1.5 million from some of the carbon credits generated by the projects. A certain percentage goes to government coffers.” Rwanda launched its carbon market framework in 2023 to guide investors and project developers seeking to generate and trade carbon credits. Carbon markets allow verified reductions or removals of greenhouse gas emissions to be converted into tradable units known as carbon credits. One carbon credit generally represents one tonne of carbon dioxide equivalent that has been avoided, reduced or removed from the atmosphere. Countries, companies and other organisations can buy the credits, providing financing to projects that reduce emissions or remove carbon from the atmosphere. For example, a forestry project that is independently verified to have removed 1,000 tonnes of emissions could generate about 1,000 carbon credits, which can then be sold to buyers. ALSO READ: Rwanda to plant 63 million indigenous trees for carbon market Revenue from the credits can help finance tree planting, forest protection and other climate-related activities. Projects span key sectors Munyazikwiye said carbon markets are helping Rwanda mobilise additional financing for projects that reduce greenhouse gas emissions as the country works to meet its climate commitments under the Paris Agreement. The 29 registered projects span areas including land conservation, agriculture, forestry, electric mobility, waste management and renewable energy. These projects generate carbon credits by reducing or removing greenhouse gas emissions, which can then be sold to interested buyers. Carbon credits cost up to $45 Munyazikwiye said the price of carbon credits varies depending on several factors, with current prices ranging from about $14 to $45 per tonne. Project developers first submit proposals to REMA, where they are assessed by a technical committee before authorisation is issued. Approved projects then undergo verification by independent accredited entities to establish whether the claimed emissions reductions or removals are being achieved. ALSO READ: Can Rwanda make the best out of carbon markets? Munyazikwiye said international accredited entities audit the projects to determine whether the emissions reductions reported by developers have actually been achieved. The verification process is intended to ensure that carbon credits traded on the market correspond to genuine and measurable emissions reductions. He said Rwanda participates in both voluntary and regulated carbon markets. Regulated carbon markets are linked to countries’ climate commitments, while voluntary markets allow companies and other organisations to purchase carbon credits voluntarily. Carbon credits can also be traded across borders, allowing countries to purchase eligible emissions reductions generated elsewhere and, where applicable, count them towards their climate targets. Companies can also buy and sell carbon credits among themselves. Munyazikwiye said Rwanda has a cooperation agreement with Singapore under which Singapore can purchase carbon credits generated by eligible projects in Rwanda. Environment Minister Bernadette Arakwiye said carbon markets also create opportunities for ordinary Rwandans to earn income from activities that reduce or remove greenhouse gas emissions. She cited tree planting as one area in which individuals and communities could participate. “Rwandans who plant trees can develop projects, measure the quantity of emissions reduced or absorbed and generate carbon credits that can be sold on the market,” she said. The Carbon Markets Africa Summit in Kigali which runs from October 13-15 will feature a pipeline of African carbon projects covering nature-based solutions, regenerative agriculture, carbon removals, waste-to-value initiatives and blue carbon. The projects will be presented through showcases, case studies and investment-ready deal rooms aimed at connecting project developers with investors and buyers.
