"Combined with other policy measures, carbon pricing could help mitigate these residual emissions that cannot be addressed by carbon markets, subsidies and technology alone," advocated the Executive Secretary of the United Nations Economic Commission for Africa (UNECA), Claver Gatete.

Speaking at the tenth Africa Regional Forum on Sustainable Development, which ended Friday in Addis Ababa, Gatete said that this measure could allow countries to "enhance their response to their commitments on their contributions to combating climate instability".

"Renewable energy and carbon sinks from forests and other ecosystems have a huge potential that should be harnessed to secure additional revenues and build climate-resilient green and blue economies," said Claver Gatete.

Using nature-based solutions could save African countries up to $82 billion, about €76.5 billion, each year, he said in his speech closing the meeting.

Different solutions to finance economic development and the energy transition were highlighted at the Forum, where UNECA joined several partners to present ideas that will be taken to the September Future Summit in New York, with the aim of framing the energy transition in Africa and reforming the global financial architecture.

According to the Forum's final declaration, "the summit should ensure the timely reform of global financial institutions and architecture to make them fit for purpose and capable of serving the interests of Africa and developing countries in the rest of the world".

The United Nations Development Programme (UNDP) Regional Director, Ahunna Eziakonwa, highlighted in her speech at the meeting the importance of creating synergies with other institutions, ensuring effective and sustainable climate action.

"Implementing carbon pricing requires evidence-based analysis and engagement with stakeholders, including policymakers, investors and civil society organisations," she said, after the African Union Commissioner for Economic Development, Trade, Industry and Minerals agreed with the creation of the carbon tax.

For Albert Muchanga, the implementation of this measure is "crucial to address the climate crisis", in a context of integrating African economies, mostly small and fragmented, into a continental green transition that also takes advantage of the free trade agreement.

The statements by the officials present at the Forum come at the same time as the creation of the Panel on Critical Minerals for the Energy Transition, announced on Friday by UN Secretary-General António Guterres.

"A world powered by renewable energy is a world hungry for critical minerals; for developing countries, these critical minerals represent a major opportunity to create jobs, diversify their economies, and increase their incomes – if they are managed properly," said the former Portuguese Prime Minister.

The minerals in question are increasingly sought after for rechargeable batteries, electric cars, wind turbines or solar panels, including copper, lithium, nickel, cobalt and others, which are abundant in Africa.

The panel has already been joined by 23 countries or groups of countries, including the European Union (EU) and the African Union, as well as the United States and China, and 15 non-governmental and multilateral organisations.

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