By Al-amani Mutarubukwa

The Common Market for Eastern and Southern Africa (Comesa) will roll out a $50 million (Sh70 billion) initiative to support carbon trade projects.

Governments, the private sector and farmers wishing to involve themselves in carbon trade investments in forestry and other related land uses will get grants.

Comesa climate change coordinator Chikakula Miti told The Citizen on Friday in Dar es Salaam that the bloc’s member states had decided to increase anti-pollution campaigns.
 
“In line with response to climate change impacts in the region, we will start with $50 million, but we hope to have $1 billion in the next three years. We are establishing an organisation that will guide the initiative, which should be operational before the end of this year,” said Mr Miti.

Carbon trading is an administrative approach used to control pollution by providing economic incentives for achieving reductions in pollutant emissions.

There are many similar projects by African countries, but they are not well developed partly due to lack of funding.

Certification and verification processes usually need technical experts from abroad that most indigenous farmers wishing to invest in carbon trade cannot hire.

According to Mr Miti, the initiative will assist investors aspiring to enter into the lucrative carbon trade projects by developing them, provide them with technical assistance and later on link them to the carbon market.

Farmers have been complaining about unsuitable mitigation programmes such as the carbon financing schemes that include the Clean Development Mechanism and the voluntary carbon markets for being for failing to support smallholder farming and pastoral systems.

“This is mainly because these programmes entail complex qualification requirements, ” Eastern Africa Farmers Federation president Philip Kiriro told journalists recently in Dar es Salaam.
“In the second commitment period, we call for their reform to be responsive to African realities and to have a business sense for smallholder farmers.”

Add this page to your favorite Social Bookmarking websites