Staff Writer
The Ministry of Environment, Climate and Wildlife aims to finalise the country’s Article 6 Policy and Carbon Market Strategy by December 2024.
The timeline aligns with the integration with the Climate Change Management Bill, creating a comprehensive framework for Zimbabwe’s participation in international carbon markets.
The Ministry’s announcement to establish Zimbabwe as one of the first parties to the Paris Agreement to achieve full Article 6 readiness comes amid growing international interest in carbon markets as a tool for climate finance.
A critical component of the Paris Agreement, Article 6 seeks to raise global climate ambition while contributing to sustainable development by encouraging international cooperation through market-based mechanisms.
The Ministry said in line with all UNFCCC requirements and international standards of best practice, the government has embarked on the process of developing the Article 6 Implementation Framework to ensure transparency and accountability in carbon trading on the compliance market.
“The government looks forward to finalising the Article 6 Policy and Carbon Market Strategy by December 2024, in time for integration with the Climate Change Management Bill. Zimbabwe hopes to attain full Article 6 readiness in the first half of 2025,” the Minister of Environment, Climate and Wildlife, Sithembiso Nyoni, said today.
Article 6 of the Paris Agreement allows countries to cooperate voluntarily in achieving their climate goals. This can involve trading carbon credits generated through emissions reduction projects.
A robust Article 6 Policy and Carbon Market Strategy is crucial for Zimbabwe to capitalise on these opportunities and attract investment in clean energy and sustainable development projects.
Article 6 requires host countries to put in place the necessary institutional, technical, and legal arrangements to ensure the integrity of emissions reductions, and accountability for all mitigation outcomes generated within their jurisdiction.
The Minister highlighted that achieving Article 6 readiness will allow Zimbabwe to fully engage in the international compliance market, guaranteeing the best possible financial returns, full alignment of the carbon market with national development objectives, and an improved investment climate.
Nyoni highlighted that this will not only provide Zimbabwe with additional resources but will consolidate the country’s position as a global leader in the fight against climate change.
She said the process of developing the Article 6 Implementation Framework to ensure transparency and accountability in carbon trading on the compliance market will include a full readiness and needs assessment, the development of an Article 6 Action Plan, the development of Zimbabwe’s Article 6 Policy and Carbon Market Strategy and a state-of-the-art carbon registry.
The process will also include a detailed operational manual including measurement, reporting, and verification guidelines and a cutting-edge online portal providing project developers, the public, and investors with comprehensive access to all necessary forms and procedures.
The process builds on existing policy including the Carbon Credit Framework, and Statutory Instrument 150 of 2023 and its amendments. Furthermore, this will align with forthcoming legislation including the Climate Change Management Bill to be enacted before the end of the year.
The Ministry of Environment, Climate and Wildlife is the main government entity that coordinates policy on environment and climate.
The Ministry is mandated to promote and regulate carbon trading in Zimbabwe and facilitate trade in carbon credits to contribute to climate change mitigation, adaptation and sustainable development.
