Zim’s carbon trading efforts hailed

Ivan Zhakata

Herald Correspondent

Zimbabwe Carbon Association (ZCA) has welcomed Government’s effort to bring transparency and accountability to carbon trading in the country and position Zimbabwe as a credible and attractive destination for green financing.

The Zimbabwe Carbon Credit Framework, which the Government publicly released in April 2023, outlined the country’s plan to oversee carbon projects participating in both the compliance and the voluntary carbon markets.

While the development of a local compliance market will take some time, there are already several investors in local voluntary carbon market projects under internationally accepted standards, such as Verra and The Gold Standard.

Chairperson of the ZCA Mr Nick de Swardt said they were ready to work with Government and stakeholders to establish a well regulated, transparent and equitable carbon trade market that has the potential to drive huge investment in delivering climate mitigation solutions.

Mr de Swardt said this will also support ongoing climate change awareness and capacity building efforts in mitigation strategies across vulnerable sectors such as agriculture.

“As an organisation with a growing membership of companies and not-for-profits committed to Zimbabwe’s climate agenda, we have a stake in the country’s reputation in the global carbon trading market,” he said.

“This means demonstrating to those involved in the carbon trading market that Zimbabwe is home to projects that have solid technical skills and expertise to meet the agreed verification standards, can work hand in hand with local communities as equal partners and prove that the finance is invested in concrete results to reduce carbon emissions.

“From our accumulated experience in the sector, we are aware that establishing the institutional infrastructure envisaged in the framework will require coordination with trusted and respected international bodies in carbon verification and trading systems so as to establish confidence and bring much needed finance to the country.”

Zimbabwe’s natural ecosystems are a hugely valuable national resource and the country is endowed with large intact woodlands, savannah and wetlands that provide essential services to people such as clean air and water, pollination and healthy soils.

These ecosystems are a vital buffer that protects Zimbabweans from the worst effects of climate change.