In a move to boost its role as a key player in the global carbon credit trade, Tanzania has entered into a significant agreement covering six national parks. This deal marks one of the largest land-based carbon credit projects in East Africa, spanning 1.8 million hectares (4.4 million acres).
Tanzania, home to nearly 48 million hectares of forest resources, is actively participating in the global carbon credit trade. The announcement of this agreement coincides with the COP28 summit being held in Dubai, where world leaders are convening to discuss solutions for climate change.
Carbon credits operate by allowing organizations that pollute to purchase a credit equivalent to one tonne of carbon dioxide. The funds procured from these transactions are then funneled into projects aimed at reducing carbon emissions. This system aims to maintain, or even decrease, the overall levels of carbon dioxide and other pollutants produced.
The recent deal is a collaboration between the Tanzania National Parks Authority (Tanapa) and Carbon Tanzania, a locally based firm. Revenue from the carbon credits sales will be distributed to Tanapa and local communities, as announced by Carbon Tanzania.
Beyond its role in the carbon credit trade, the project also aims to prioritize the “protection, conservation, and enhanced management of these national park areas, safeguarding their natural ecosystems and vital wildlife resources,” according to a statement from Carbon Tanzania.
The six national parks included in this project are Burigi-Chato, Katavi Plains, Ugalla River, Mkomazi, Gombe Stream, and Mahale Mountains. Additional funding for the project will be provided by Mohammed Enterprises Tanzania Limited, an agricultural and manufacturing company owned by prominent Tanzanian businessman Mohammed Dewji.
Earlier this year, Tanzania entered into a preliminary agreement for an even larger carbon credit project. This proposed venture, which covers 8.1 million hectares – nearly 8% of Tanzania’s total land mass, underscores the country’s commitment to environmental sustainability and carbon trading.
