Tanzania has approved four carbon trading projects valued at more than $52.1 million, with the government expecting to receive about 8% of proceeds from the eventual sale of their carbon credits on international markets, local news outlet Daily News reported last week, citing a government official.
The projects are expected to generate 4.2 million tonnes of carbon credits, or carbon dioxide equivalent (CO2e), for trading under Article 6 of the Paris Agreement. The government’s expected share is estimated at more than $4.2 million, equivalent to about 10.8 billion Tanzanian shillings.
The approved projects are being implemented by cookstoves manufacturer Burn, clean tech specialist UpEnergy, engineering nonprofit Water Mission, and London-based carbon project developer Bridge Carbon.
Clean Cooking And Water Projects Lead New Approvals
The projects focus on clean-cooking energy, improved cookstoves and access to safe water. The initiatives are expected to support Tanzania’s National Clean Cooking Energy Strategy by distributing more than 900,000 clean cookstoves, including electric models, to more than 600,000 households in rural and urban areas by 2034.
A nationwide clean-water program covering all 26 regions is projected to create about 1,000 direct jobs and business opportunities for more than 100 suppliers while reaching more than 1 million households, particularly in the Kigoma and Dodoma regions.
Relevant: IEA Unveils Fresh $900M Clean Cooking Push For Africa
Collectively, the projects are expected to cut greenhouse gas (GHG) emissions by between 1 million and 2 million tonnes of CO2e annually. The government said the initiatives are intended to support environmental conservation, climate resilience and Tanzania’s Development Vision 2050.
Tanzania has established a National Carbon Monitoring Centre (NCMC) and strengthened regulations governing carbon trading, with the government seeking greater transparency, accountability and national benefit from the market.
Relevant: Opinion: What The Koko Collapse Means For Carbon Finance And Clean Cooking
