Browsing: African Carbon Credits Market

Carbon credits trading growing in Tanzania. Photo/Sputnik

Tanzania’s climate wins go local with $16.8M payout to citizens

Investing
  • Tanzania disburses $16.8 million to locals in carbon credits earnings.
  • Country now boasts of 73 registered projects currently at various stages of implementation.
  • The projects cover several sectors: forestry (51%), energy (33%), agriculture (8%), livestock (5%) and waste management (3%).

Tanzania distributed $16.8 million to citizens across 10 local government authorities as revenue from the sale of carbon credits. The announcement was made by Deputy Minister of State in the Vice-President’s Office (Union and Environment), Mr Khamis Hamza Khamis in the National Assembly while responding to a primary question from Special Seats MP Bernadetha Mushashu, who inquired about the benefits Tanzania has gained from carbon trading.

According to the deputy minister, the government continues to coordinate and strengthen the management of carbon trading, with 73 registered projects currently at various stages of implementation.

The projects cover several sectors: forestry (51 per cent), energy (33 per cent), agriculture (8 per cent), …

Carbon credits snapped up by Saudi firms in a Nairobi auction.

Africa’s carbon credit market

Industry and Trade

The demand for carbon offsets is rapidly growing in Africa, unlocking billions for the climate finance needs of economies. Kenya recently hosted a carbon credits auction. The auction is the world’s largest sale, where firms from Saudi Arabia bought more than 2.2 million tonnes of certified carbon credits.…