Carbon firm, Ruangwa district sign trading deal
What you need to know:
- Almost 38 percent of Tanzania’s forest cover is being lost at the rate of about 400,000 ha annually and should this continue, the country would deplete its forest cover in the next 50-80 years.
Ruangwa. Carbon First Tanzania Limited and the Ruangwa District Council have signed an agreement to participate in carbon trading, with the main aim of incentivizing environmental preservation.
The agreement, signed in Ruangwa yesterday, was witnessed by councillors of the district council, village leaders, and project executives.
After signing the carbon trading agreement, which was also endorsed by councillors, the chairman of Ruangwa District Council, Mr Andrew Chikongwe, expressed his gratitude to the councillors for approving the contract.
He said the agreement marks the start of the implementation of the project, which is aimed at conserving the environment and enhancing the local authority’s income.
“Today’s event is the outcome of the training programme we had in Tanganyika Council, Katavi Region. We are incredibly thankful to Carbon First for agreeing to collaborate with us on this carbon trading project,” he said, adding that since the project is new, the first step would be to educate the residents of the 14 involved villages to ensure a comprehensive understanding.
He said a total of 250,000 hectares from 14 villages would be allocated to the project, with plans to commence it as soon as possible.
Carbon First Tanzania’s chief operations officer, Mr Iftikhar Khan, appreciated the district’s warm reception, promising that the project would have a transformative impact on the entire community.
He said the firm would now progress to complete the trading contract, with the objective of achieving the project’s goals of economic uplifting and environmental preservation.
“Besides boosting the economy of Ruangwa residents, the project would primarily contribute towards forest preservation by shifting the income source from charcoal and timber to carbon credits,” he said.
Almost 38 percent of Tanzania’s forest cover is being lost at the rate of about 400,000 ha annually and should this continue, the country would deplete its forest cover in the next 50-80 years.
However, carbon trading projects are supporting efforts to protect the forests because instead of cutting down trees or producing charcoal, residents will preserve the forests to benefit from the carbon credits business.
Ruangwa district executive director, Mr Frank Chonya, expressed gratitude towards Carbon First Tanzania Ltd for selecting Ruangwa as the project implementation site.
