THE Africa Voluntary Carbon Credits Market Forum (AVCCMF) will be holding a two-day climate change carbon markets and sustainability indaba in Bulawayo next week to unlock Zimbabwe’s potential in “climate economy”.
Climate economy is a concept that is growing into a globally accepted form of growth and is centred on the idea that economic growth and environmental sustainability can be mutually reinforcing.
The concept seeks to unlock new opportunities for economic growth and development through addressing climate change.
“This conference seeks, among other issues, to raise awareness on the climate finance, stimulate local level actions for tapping into the climate finance, while shaping the policy discourse to enable the process of promulgation of the Climate Change Management Bill . . .,” AVCCMF said in a concept note.
“. . . to be people-centric, market responsible and progressive enough to stimulate win-win outcomes to trigger the attainment of sustainable development goals and the realisation of Zimbabwe Vision 2030.”
The indaba runs from July 17 to 18 and is being co-organised by AVCCMF, the Bulawayo City Council, Bulawayo Economic Development Agency and the government.
The objective of the indaba is to “unpack, unlock and unleash” Zimbabwe’s potential in the climate economy towards Vision 2030.
Other objectives include creating a general understanding, among stakeholders, on environmental sustainability frameworks, international standards and best practices and map the road to global net zero goals.
Stimulating the creation of a robust, responsive and vibrant climate economy or carbon markets is another specific objective.
The AVCCMF said the indaba seeks to stimulate people-centric climate action initiatives, facilitate the promulgation of people-centric and market responsive climate action policies and create a conducive environment to attract climate finance.
The conference will be attended and addressed by officials from several key government ministries.
The AVCCMF is expected to bring international partners and experts to help in unpacking the pertinent issues around climate finance and how Zimbabwe can tap into this economy.
“Despite being a signatory to the Paris Agreement, Zimbabwe struggles due to restricted access to funding,” the AVCCMF said.
“The signing of the Paris Agreement opened an opportunity for developing countries to access climate finance through which they can fund their coping, resilience, mitigation and adaptation programs to ameliorate the impact of climate change and stimulate sustainable development.”
AVCCMF said through Articles 6.2 and 6.4 of the Paris Agreement, Zimbabwe stood to access funding under the internationally transferable mitigation outcomes and use these funds to build capacities of the affected communities.
Notwithstanding the colossal opportunity presented by the Paris Agreement, most African countries, including Zimbabwe are yet to tap into climate finance under the Paris Agreement Framework owing to lack of appreciation on how the Paris Agreement Carbon trading mechanism works.
“Zimbabwe’s Climate Change Management Bill, with its nine principles, is a positive step. However, stakeholders must actively engage to bridge the information gap. A two-day conference could facilitate knowledge sharing and foster collaboration,” it said.
AVCCMF is a pan-African civic society organisation that drives the climate action agenda through people-centric approaches to accelerate Africa into the climate economy.