Last week saw an agreement between Carbon Trade Exchange (CTX) and Victoria Falls Carbon Registry at the inaugural African Voluntary Carbon Credit Market (AVCCM) Forum. The partnership will work on establishing a regional (Pan African) registry owned and operated in Zimbabwe plus a locally operated, owned, and branded version of the worlds first global Voluntary Carbon platform, CTX.
Kwanele Hlabangana, Chairman and Co-Founder of the AVCCM said, “Partnering with experienced world class Carbon Market technology leaders like GEM & CTX is exciting. Responses from projects, communities and governments is outstanding. It’s a great opportunity to accelerate Africa into the Global Climate to save our planet.”
The Victoria Falls Carbon Registry (VFCR) further stated that it will support the migration of Zimbabwe and other African nations projects and carbon credits back to Africa to be re-issued under their control. African Nations wishing to participate will be offered a National Sub-license and Registry Administration role within the VFCR, to support, lodge, monitor and manage projects and credit issuance in their nation. This low-cost solution is expected to negate the need for separate National Registries.
The Registry will be operational in August 2023 and will start accepting projects, new or migrating, as soon as staff are trained to do so. Global Environmental Markets Group (GEM) will deliver the technology with training in August.
The AVCCM event attracted a large global audience across the carbon market, plus Government, banking, and project developers, supporting Zimbabwean Government’s decision to bring the carbon credits ‘home’ under the UNFCCC Paris Agreement.
“This is the future Africa said it wanted from the Paris agreement in 2015,” according to Wayne Sharpe, CEO & Founder, Global Environmental Markets Group. This follows on from COP27 where GEM and CTX did multiple presentations to various African nations. After speaking at the AVCCM event, Wayne added, “We saw the passion and commitments to Carbon Credits in Zimbabwe and Africa. This is why we built this technology, to deliver financial and ecological benefits to nations on the ground!”
Kwanele Hlabangana, Chairman and Co-Founder of AVCCM said, “Partnering with experienced world class Carbon Market technology leaders like GEM & CTX is exciting. Responses from projects, communities and governments is outstanding. It’s a great opportunity to accelerate Africa into the Global Climate to save our planet.”
In May, 2023 Zimbabwe’s government announced that it will take control of carbon credit issuance and administration in the country. This has prompted a response from carbon certification company Gold Standard – yesterday it announced that it is pausing the issuance of new carbon credits from the country.