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African countries, including Zambia lack the capacity to generate carbon credits, thereby missing out on the benefits that come with the trade, according to the African Institute for Carbon Trading and Sustainability (AICTS).
Institute Chief Executive Officer, Kudakwashe Manyanga, explained that Carbon Credits, also known as Carbon Offsets, represent the reduction or removal of Carbon Dioxide equivalent from the atmosphere.
Speaking on the sidelines of the launch of the Zambia Renewable Energy Certification platform (ZAM–REC) in Lusaka, Manyanga observed that African states hash not reaped the benefits of carbon trading due to among others, lack of capacity.
He noted the need for the government to invest more in capacity building for carbon trading as well as raise awareness among citizens in order to change the narrative.
“They are tradable units, typically generated through projects that either reduce emissions or remove carbon from the atmosphere,” Manyanga said.
He called for capacity building initiatives for stakeholders like Chiefs and university students in the sector, as well as general citizenry in an effort to increase awareness.
“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,” Manyanga said.
He also explained that the ZAM–REC certification process would navigate Zambia’s renewable energy sector if well embraced.
“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.
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Similary, MentorMe CEO Elias Chipimo said information gaps were major factor hindering carbon trading.
Chipimo said the public did. 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.
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