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As the ugly, devastating, and catastrophic effects of Climate Change are visibly taking a toll on communities, there is an urgent need for stakeholders to converge, explore options and possible solutions to ameliorate these effects, build coping, resilience, and adaptation capacities, and reduce vulnerability and risk.
While the El-Nino-induced drought is affecting communities, the Ministry of Environment, Climate, and Wildlife has announced a national drive for aligning with the Paris Agreement which in turn will unlock Climate Finance into the country to finance the coping, resilience, mitigation, and adaptation systems for Zimbabwe, the City of Bulawayo, Africa Voluntary Carbon Credits Market Forum (AVCCMF), Office of the President and Cabinet: Office of the Minister of State for Provincial Affairs and Devolution- Bulawayo Metropolitan Province, Office of the Minister of State for Provincial Affairs and Devolution, Matabeleland South Province, the Office of the Minister of State for Provincial Affairs and Devolution, Matabeleland North Province, and Bulawayo Economic Development Agency are convening a historic high profile multi-stakeholder Climate Change, Carbon Markets and Sustainability Indaba on the 17th and 18th of July 2024 at the Large City Hall in Bulawayo.
This event will be headlined by an Address by the Minister of Environment, Climate and Wildlife, Dr Sithembiso G.G Nyoni who is expected to unpack the National Strategy for aligning with the Paris Agreement and also addressed by other Government Cabinet Ministers that include the Minister of Energy and Power Development, Hon Edgar Moyo, Minister of Lands, Agriculture, Water, Fisheries and Rural Development, Dr Anxious Masuka, Representatives of the Ministry of Finance, Economic Development and Investment Promotion, as well as Representatives of the Ministry of Local Government and Public Works.
International and local Climate Change, Carbon Markets, and Sustainability experts, Climate Finance experts and Project Developers will participate alongside Heads of Local Authorities, Civic Society organizations, and captains of industry and commerce will be in attendance.
The City of Bulawayo will use this event to launch its Sustainability Roadmap, a Practicable, People-centric Climate Action Initiative that seeks to position the City of Bulawayo as sustainable and champions the Net Zero Agenda towards Carbon Neutrality to keep ground temperature rise below 1.5 degrees celsius and open doors for Green Investment and Sustainable Development.
The Ministry of Environment, Climate, and Wildlife (the Ministry) is the main government entity coordinating the climate policy. The Ministry formulated the Carbon Credit Framework (CCF), which the Cabinet approved on May 16, 2023. The main objective of this framework is to promote, institutionalize, and regulate the trade in carbon credits on both the Compliance and Voluntary Markets. The Framework also elaborates on eligible sectors for carbon credit projects.
On August 18, 2023, the Carbon Credits Trading (General) Regulations, 2023 was gazetted as a legal instrument to regulate trade in carbon credits (SI 150 of 2023). This provides Project Proponents with clear steps for project registration. Currently, the Ministry is developing a Climate Change Management Bill. Stakeholder engagements and consultations have so far been convened in four (4) out of the ten (10) Provinces, with the remaining Provinces to be covered in the next two months. Carbon trading continues to emerge as a topic of interest during these consultations with many calling for the government to put in place the Article 6 Readiness Strategy.
To date, the Ministry has since received significant applications from prospective carbon developers targeting largely the Voluntary Carbon Market. However, from the preauthorized project note, most developers are seeking to transition from the Voluntary Carbon Market to the Compliance Market. These preliminary findings from stakeholder consultations, along with the call from developers to transition to a compliance market, have prompted the government to urgently start developing necessary enabling policy frameworks for Article 6 implementation.
