Jane Nkiwane
BULAWAYO-The Africa Voluntary Carbon Credit Market Forum (AVCCMF) is underway in Bulawayo, Zimbabwe, bringing together delegates from across Africa and beyond to tackle climate change and explore innovative solutions for climate finance.
The two-day forum, themed “Unpacking and Unlocking Zimbabwe’s Potential in the Climate Economy,” focuses on harnessing Africa’s potential in the carbon market while promoting sustainable development.
A key focus of the forum is exploring opportunities for African countries to generate carbon credits through initiatives in forestry, agriculture, renewable energy, and waste management. Discussions highlight the growing role Africa plays in the carbon market, with participation rising from 11% to 15% following COP27.
“Africa needs climate financing urgently, and innovative ways of raising climate finance are essential to enhance our adaptive capacity and resilience,” said Dr. Sithembiso Nyoni, Minister of Environment, Climate and Wildlife in speech on her behalf by Climate Change Management director, Washington Zhakata. “This forum provides a platform to generate ideas on ensuring our continent is adequately resourced to address the current climate crisis.”
Zimbabwe is taking a proactive approach to carbon trading, aiming to achieve full Article 6 readiness by mid-2025. This will allow the country to participate in the international compliance market. The government is finalizing an Article 6 Policy and Carbon Market Strategy alongside the Climate Change Management Bill to ensure transparency and accountability in carbon trade.
“We aspire to have more projects in the Compliance Market, governed by the Paris Agreement’s Rules, Modalities, and Procedures, which would contribute to meeting our Nationally Determined Contribution,” Dr. Nyoni explained. “Carbon financing must enhance our capabilities to achieve economic growth objectives sustainably.”
The forum emphasizes the importance of collaboration between governments, traditional leaders, the private sector, academia, and development partners. This collaborative effort is crucial for mitigating climate change, protecting Africa’s natural resources, and establishing a robust regulatory framework for carbon trading.
The AVCCMF aims to raise climate awareness, encourage local participation in climate finance initiatives, and shape policy discussions for a sustainable future. The forum fosters knowledge sharing and collaboration among stakeholders across various sectors, accelerating Africa’s transition to a climate-resilient economy.
