To address the major issue of deforestation in Nigeria, the Nigeria Sovereign Investment Authority (NSIA) invited the Columbia Capstone team to consult on the Ile Dotun project, the first agroforestry project in Nigeria covering 108,000 hectares of degraded land. The project is expected to generate carbon offset credits and co-benefits on climate action, biodiversity and food security. However, the project lacks sufficient financing. As such, the team has been tasked with identifying a range of potential funding partners and carbon credit buyers to ensure the project’s financial viability.

In the final report, the team explored current processes in the sale and certification of carbon credits and a deep dive analysis of several registration bodies. Additionally, the team explored market structures, key trends, and persistent risks in the carbon credit space to expand NSIA’s understanding of carbon markets as they relate to the financial viability of the Ile Dotun project. A study on emerging Blockchain technologies addressing challenges and inefficiencies in the traditional carbon credit market brings a nuanced and forward-thinking lens to the whitepaper.

Furthermore, the team assessed a total of 104 reforestation and agroforestry projects in Africa. The ongoing projects were assessed by total estimated carbon sequestration potential, size (hectares), project investors and developers, certification registry, financial viability, risks, and mitigation strategies. Nonetheless, these categorizations allowed for the team to report key takeaways, trends, and risks relevant to the NSIA. These projects and respective attributes were visualized in a dynamic and interactive map using ArcGIS technology.