Zambia Urged to Build Capacity in Carbon Trading as ZAM–REC Platform Launches
African Institute for Carbon Trading and Sustainability has stated that many African countries, including Zambia lack the capacity to generate carbon credits, thereby missing out on the benefits that come with the trade.
And MentorMe CEO Elias Chipimo says renewable energy is the ‘game – changer’ amidst climate change that has brought with it devastating effects on environments across the globe.
Speaking at the launch of the Zambia Renewable Energy Certification platform (ZAM – REC) in Lusaka, Institute’s Chief Executive Officer Kudakwashe Manyanga explained that carbon credits, also known as carbon offsets, represents the reduction or removal of carbon dioxide equivalent (tCO2e) from the atmosphere.
They are tradable units, typically generated through projects that either reduce emissions or remove carbon from the atmosphere.
Manyanga observed that African states have not reaped the benefits of carbon trading due to among others, lack of capacity.
“The reason is that there has never been a single institution that teaches trading. It is an emerging issue that came out from the Paris Agreement signed in 2016,” he said.
Manyanga said to change the narrative, there is need for the government to invest more in capacity building for carbon trading as well as raise awareness among citizens.
He proposed that one key approach that can help is have capacity building initiatives for stakeholders like chiefs and university students in the sector, as well as general citizenry in an effort to increase awareness.
“I know that the Zambian government has already started doing that, but we feel more needs to done as far as promotion of carbon trading is concerned. If anything, we are not happy that Zambia is missing out on the opportunities for renewable energy,” Manyanga said.
Meanwhile, Manyanga explained that the ZAM – REC certification process will navigate Zambia’s renewable energy sector if well embraced.
And speaking in an interview on the sidelines of the launch, MentorMe CEO Elias Chipimo said information gaps were major factor hindering carbon trading.
Chipimo said the public does not have access to data that can change people’s livelihoods, adding that carbon trading can offer local communities to be active participants if information is readily available.
He said the ZAM – REC presented that opportunity for people to share knowledge on carbon trading.
“The Renewable Energy Credits mechanisms is a game – changer for investors and developers in the renewable sector in Zambia and will support the steps the country is taking towards supporting the foundation for meeting targets set for compliance with emissions reductions under the auspices of the Paris Climate Agreement,” Chipimo said.
