Staff Writer The Ministry of Environment, Climate and Wildlife has emphasised the critical role of forests in mitigating climate change through carbon sequestration highlighting that during droughts, they are a major coping strategy for adaptation. Carbon sequestration involves capturing and long-term storage of carbon dioxide or other carbon forms to mitigate or defer global warming…
Staff Writer The African Development Bank (AfDB) says Africa will need US$277 billion per year to address climate change, yet it receives only US$30 billion annually. Africa is responsible for only a fraction of global greenhouse gas emissions but is suffering disproportionately from climate change. The World Meteorological Organisation says this is harming food security,…
Staff Writer Zimplow says it continues to enhance its reporting framework on environmental, social and governance (ESG) initiatives as guided by regulatory authority and international best practices. The Victoria Falls Stock Exchange (VFEX)-listed firm said it remains steadfast in its mission to uphold ESG principles and contribute to a more sustainable and ethical business environment….
Staff Writer Kenyan President William Ruto has called on the international community to respond to the declaration made by Zimbabwe on the state of disaster caused by the El Nino-induced drought. Zimbabwe declared a state of disaster earlier this month, with President Emmerson Mnangagwa highlighting that the southern African nation requires more than US$2 billion…
Staff Writer Rainbow Tourism Group (RTG) says its solar plant at Kadoma Hotel and Conference Centre has reduced the overall hydro-generated electricity consumption by an average of 40%. The hotelier said the 300kva solar plant marks a significant milestone towards greening the hotel and is also proof of concept for future similar projects. RTG has…
Staff Writer National Building Society (NBS) says it has partnered with the European Organisation for Sustainable Development to implement environmental, social and governance (ESG) initiatives. The society’s bold step towards sustainability aligns with the Reserve Bank of Zimbabwe’s goal of promoting sustainable development in the financial services sector. “Through initiatives like the sustainable and socially…
Staff Writer Zimbabwe has developed the Development Projects Management Information System to enhance accountability and transparency around climate tagging within programmes and projects. Ministry of Finance Mthuli Ncube said the system will soon be operationalised to enable comprehensive tracking of climate-related expenditures across public and development partner supported programmes. Speaking at the 2024 ZITF International…
Staff Writer The Ministry of Energy reports a surge in private renewable energy investments, following the government’s implementation of a guarantee structure. Zimbabwe has licensed over 100 independent power producers (IPPs), with the capacity to generate a potential 8 000 megawatts (MW). IPPs in Zimbabwe are currently contributing less than 1,5 percent of domestic generation…
Staff Writer The World Food Programme (WFP) says over 153 200 Zimbabweans benefited from its climate risk insurance payouts in 2023 with a premium value of US$1 million. In its Climate Risk Insurance annual report for 2023, WFP said it covered over 8 000 Zimbabweans through climate risk insurance protection, with financial coverage totalling nearly…
Staff Writer The International Monetary Fund (IMF) says the current drought in southern Africa will put pressure on external balances and public spending. From January 2024, several parts of Southern Africa experienced significantly below-average rainfall. Zimbabwe, Zambia, Malawi, Angola, Mozambique and Botswana received less than 20 percent of the typical rainfall expected for February, with devastating…
