Ethiopia aims to generate $70 million revenue from carbon trading

Addis Ababa, April 4, 2025 (FMC) — Ethiopian Forestry Development (EFD) has announced that the East African nation has signed a 70 million USD memorandum of understandings with various countries and international institutions for carbon trading.

Director-General of EFD Mr. Kebede Yimam told Fana Media Corporation that efforts made on green development strategy have contributed to the progress in the implementation of carbon trading.

Highlighting the efforts undertaken so far, the Director-General said MOUs have been signed with various countries and international organizations, including the World Bank, to generate revenue worth 70 million USD through carbon trading.

In that regard, Mr. Kebede recalled the climate partnership agreement signed by the Ethiopian Ministry of Finance and the Norwegian government.

He also stated that the country’s forest cover has increased to 23.6 percent thanks to the work done on forest development through the Green Legacy initiative since 2019.

It has been stated that market research activities are being done to implement carbon trading in densely forested areas.