Ricardo supports the Republic of Guinea to launch first carbon pricing system in West Africa

Ricardo, a world leader in environmental and strategic consulting, today announces that it has supported the Republic of Guinea in strengthening its climate ambition by helping it to set improved Nationally Determined Contribution (NDC) targets and designing a Carbon Pricing Instrument (CPI) for its mining sector. Once established, Guinea will become the first West African nation to introduce a carbon pricing instrument (CPI) and the first country in Africa to launch a sector-based CPI. 

Guinea has already taken important steps towards formalising its participation in international carbon markets. Confirming its intent to implement the CPI designed by Ricardo and establishing a national registry, an authorisation framework, and new institutions under Article 6 of the Paris Agreement in its updated NDCs at COP30. These measures will play a key role in enabling Guinea to leverage carbon market mechanisms as a major source of climate finance, underpinning its $17.7 billion climate-investment plan for 2026–2035.

Ricardo Senior Consultant Energy and Carbon Policy, Maxime Robelin, said: “Ricardo’s teams have worked closely with the Republic of Guinea’s Ministry of Environment on the design and governance of the CPI and on improving the climate targets compared to Guinea’s previous NDC. This will not only help attract investment for climate mitigation but also position Guinea as a climate leader in Africa. We were delighted to have worked closely with the World Bank and the government on this initiative."

This work is funded by the Partnership for Market Implementation (PMI), with Ricardo working closely alongside the World Bank and in partnership with Guinea’s Ministry of Environment.

Pictured above: Senior Consultant Energy and Carbon Policy, Maxime Robelin with officials from the Republic of Guinea, Ministry of Environment.