By Jane Chanda
Ministry of Green Economy and Environment (MGEE) permanent secretary Dr. Douty Chibamba says Zambia’s participation in international carbon markets is crucial for meeting Nationally Determined Contributions and Sustainable Development Goals.
Speaking at a capacity-building workshop for carbon project developers in Lusaka yesterday, Dr. Chibamba stressed the importance of Zambia’s Carbon Market Framework.
He noted that since December 2022, the Ministry had processed 39 applications, reviewed 30 project concept notes and issued letters of no objection to 10 projects.
Among the projects include the Consolidated Farming Limited (Kafue Sugar) initiative which is now positioned for further development and potential implementation.
“The significance of this workshop cannot be overstated, as it marks a crucial step in our journey towards establishing a vibrant carbon market in Zambia,” Dr. Chibamba said. “As we progress with our Carbon Market Framework and upcoming Climate Change Bill, it is essential that project developers understand the new processes for carbon market operationalisation,” he said.
The permanent secretary said the ministry was committed to supporting project developers in navigating the new framework and ensuring successful participation in international carbon markets.
Dr. Chibamba pointed out the benefits of Zambia’s Carbon Market Framework, saying it would contribute to national climate goals and provide economic benefits through carbon credits.
“The Carbon Market Framework presents a unique opportunity for Zambia to transition to a low-carbon economy, and we encourage project developers to explore innovative projects that can attract carbon financing,” Dr Chibamba said.
He also stressed the importance of collaboration and knowledge sharing in the development of Zambia’s carbon market.
He said the Ministry was committed to providing necessary support and guidance to ensure a vibrant, transparent, and beneficial carbon market.
“With our rich natural resources, innovative projects, and commitment to sustainability, I am confident that Zambia can become a leader in the global carbon market,” said Dr Chibamba. “I look forward to working with all stakeholders to make this vision a reality.”
