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Leonard Ncube in Dubai, UAE

ZIMBABWE could reap about 100 million carbon credits worth billions of United States dollars through climate adaptation and mitigation activities including the regenerated climate-smart agriculture, better known as Pfumvudza/Intwasa.

What is critical is to ensure the general citizens understand the concept of carbon credits and invest their time in conserving the environment and start projects that can help them generate revenue through carbon sequestration.

Zimbabwe has taken the lead in carbon credits and has since come up with deliberate policies to govern the sector.
Speaking at the global climate summit, the 28th United Nations Framework Convention Conference of Parties on Climate

Change in Dubai, Environment, Climate and Wildlife Minister, Cde Nqobizitha Mangaliso Ndlovu, said there are many adaptation projects being done by Zimbabweans, which can earn carbon credits. “As discussions unfold here at COP28, we should be able to host a session on our views around carbon credits. We have seen quite a number of projects that are around mitigation like the wood stoves and water purification,” he said.

“These are projects being done by our people and quantify carbon credits.”
Africa Voluntary Carbon Credits Forum executive director Mr Anglistone Sibanda said so far important issues that have been discussed are around loss and damage and stocktake from the suffering induced by climate change and implementation of Article 6.4 of the Paris Agreement, which speaks to the issue of carbon offsets.

“Zimbabwe being one of the countries in Southern Africa that has an active carbon market space, we the private sector have taken it upon ourselves to make sure we actualise these agreements into practical action and one of the actions is around carbon markets and so far we have had a lot of breakthroughs engaging potential funders and investors to offset their carbon through projects developed in Zimbabwe and also to have potential goodwill from partners and countries that want to come and invest in renewable energy,” said Mr Sibanda who is part of the private sector and civic society groups attending COP28.

He said there is hope in generating carbon credit because when you invest in avoiding emissions you generate carbon credits.

“Intwasa/Pfumvudza has the capacity to generate not less than 25 million carbon credits and so, cumulatively, we stand to generate over 100 million carbon credits that we can trade on the stock market to companies that are offsetting and that has the potential of bringing billions of dollars revenue into our economy and reduce the burden from our Government and also create finds for adaptation,” said Mr Sibanda.

The carbon credits sector is a new field, which few if any ordinary people understand and Mr Sibanda said the private sector and the Government were partnering to educate citizens.

“When we get back home, we want to go on a crusade to educate people on how to manage the environment. Rural communities should come together and come up with projects that can generate revenue for them in line with Article 6.4 of the Paris Agreement. We want to train young climate entrepreneurs to be active participants and generate money, create jobs and help Zimbabwe attain Vision 2030 through climate action,” he said.

Mr Sibanda said several African countries have the potential to reap big from carbon credits due to vast forests like the Great Lakes, Miombo Forest, Kaza region, and others.

He said Africa stands to be the biggest beneficiary of carbon credits but this can only happen if indigenous people participate in the space. Lack of participation by locals may result in perpetual exploitation and violation of the environment.
The COP28 started on November 30 and ends on December 12.