GOVERNMENT has announced an ambitious programme to establish Zimbabwe as one of the first parties to achieve its climate targets under the Paris Agreement.
This, it said, would make Zimbabwe ready to meet all the expectations of Article 6 of the Paris Agreement as the southern African country intensifies efforts to implement carbon credit projects.
Zimbabwe hopes to attain full Article 6 readiness in the first half of 2025.
Achieving Article 6 readiness will allow Zimbabwe to fully engage in the international compliance market, guaranteeing the best possible financial returns, full alignment of the carbon market with national development objectives and an improved investment climate.
In a statement this week, Environment, Climate and Wildlife minister Sithembiso Nyoni said the move would provide Zimbabwe with additional resources while consolidating the country’s position as a global leader in the fight against climate change.
“A critical component of the Paris Agreement, Article 6 seeks to raise global climate ambition while contributing to sustainable development by encouraging international co-operation through market-based mechanisms,” Nyoni said.
Article 6 requires host countries to put in place the necessary institutional, technical and legal arrangements to ensure the integrity of emissions reductions and accountability for all mitigation outcomes generated within their jurisdiction.
In line with all United Nations Framework Convention on Climate Change requirements and international standards of best practice, the government has embarked on the process of developing the Article 6 implementation framework to ensure transparency and accountability in carbon trading on the compliance market.
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This will include a full readiness and needs assessment, the development of an action plan, the development of Zimbabwe’s Article 6 policy and carbon market strategy, a state-of-the-art carbon registry and a detailed operational manual.
“Recognising the enormous interest by existing project proponents and the international community in the opportunities offered by Zimbabwe, I would like to inform you that this builds on existing policy, including the carbon credit framework and Statutory Instrument 150 of 2023 and its amendments,” Nyoni said.
“Furthermore, this will align with forthcoming legislation, including the Climate Change Management Bill, to be enacted before the end of the year.
“For new investors, this will offer a set of clear, easy-to-use guidelines, approval processes and implementation modalities to guarantee the security and reliability of their investment.”
Nyoni said the government is looking forward to finalising the Article 6 policy and carbon market strategy by December, in time for integration with the Climate Change Management Bill.
This year, United Arab Emirate’s Blue Carbon and Zimbabwe joined forces to pioneer forest emission reduction projects under the Paris Agreement’s Article 6 ITMO framework, within 7,5 million hectares.
A ceremony held in Harare, saw the signing of the agreement between former Environment minister Nqobizitha Mangaliso Ndlovu and Blue Carbon chief executive Josiane Sadaka.
President Emmerson Mnangagwa and Blue Carbon chairperson Sheikh Ahmed Dalmook Al Maktoum as well as senior officials from the United Nations Development Programme witnessed the signing ceremony.
The partnership is aimed at spearheading emission reduction and removal projects in the agriculture, forestry and other land use sector in Zimbabwe while generating carbon credits in the form of internationally transferred mitigation outcomes.
The venture is expected to unlock economic opportunities for Zimbabwe through carbon credit revenues while ushering in a multitude of socio-economic benefits derived from the project investments.
The agreement also commits to a comprehensive community engagement approach and inclusive community consultations that ensure the delivery of economic and social growth opportunities as well as the promotion of sustainable development.
Blue Carbon is a wholly-owned subsidiary of Global Carbon Investments, established under the patronage of Sheikh Ahmed Dalmook Al Maktoum.
It specialises in establishing processes and templates that facilitate social development journeys for both the private sector and nations seeking to enhance their environmental assets.
It also offers instrumental expertise through end-to-end development and facilitation services for nature-based carbon projects.
