Zimbabwe advances climate action through carbon trading initiative

ZIMBABWE is accelerating its fight against climate change and stands ready to tap into the carbon markets trading sphere to harness rewards from conservation projects that address greenhouse gas emissions.

The Ministry of Environment, Climate and Wild Life is spearheading the drive and since Tuesday training meetings are being held with local authorities on carbon credit markets co-ordinated by the Department of Climate Change.

Head of directorate, Mr Washington Zhakata, said Zimbabwe has put adequate modalities in place for the carbon trading programme.

“The particular importance of this workshop is for urban local authorities to understand climate change issues at hand and to ensure that the opportunities that are arising because of climate change and the emerging carbon trading for the energy sector, waste sector, agriculture as well as industry benefit the people. Local authorities should understand and appreciate that they can empower themselves by mobilising additional resources from carbon trading, which is a climate change initiative,” he said.

Mr Zhakata urged various sectors, which include Government ministries, departments, agencies and local authorities to mainstream climate change in their development planning in order to mobilise additional resources to supplement the budget provided by Treasury.

He said carbon credits present a platform for mobilising resources for local authorities through coming up with projects that give them money.

“Local authorities must come up with best ways to manage waste to enable them to convert the waste to energy. The councils can also engage in afforestation of the cities and towns. We are into tobacco farming, which is a cycle that degrades the forest and we need to have projects on afforestation and reforestation, which can qualify for carbon trading as we move into the future,” said Mr Zhakata.

He said the meeting is also meant to capacitate urban local authorities to play a role in helping the country meet its obligation under the Paris Agreement towards reducing the greenhouse gas emissions into the atmosphere by 40 percent.

Mr Zhakata said the Climate Change Management Bill, which is before Parliament will spell out how much they need to reduce the emissions of gases in the energy, waste, industry, agriculture and mining sectors with carbon trading offsetting the emissions.

He said the move is meant to ensure that there is a balance between development, sustainability and compliance with Global agreements.

“Last year, the Government invested a lot of resources and efforts developing policy and regulatory frameworks, institutional arrangements and establishment of a hi-tech national carbon registry and web portal, a development that has qualified Zimbabwe to actively and effectively participate in the highly demanding but rewarding compliance market,” said Mr Zhakata.

He said the system was now in place for carbon trading and the country has started trading.

“In Mashonaland West, we are working with some companies that have managed to acquire over a million carbon credits. Depending on their credibility and longevity they may sell even at US$15 per credit. Automatically one million credits is already US$15 million,” said Mr Zhakata.

He said Mashonaland Central, Mashonaland West and Matabeleland North are taking a lead with carbon credits projects and urged other provinces to come on board. — @themkhust.