The Mozambican government, through the Minister of Land and Environment, Ivete Maibaze, revealed this Monday, September 11, that the country holds around 45 million carbon credits ready to be traded.
Speaking during the preparation meeting for COP28, the minister assured that “the survey carried out by our teams shows that we have around 45 million carbon credits available to be negotiated with all interested parties to complement the product commercialization agenda”.
Maibaze explained that to explore the potential of the carbon market, Mozambique “became a member of the African Carbon Markets Initiative and began drafting a Carbon Market Activation Plan, with a working group giving priority to the production of a comprehensive and enabling regulatory framework”.
According to the minister, regulation will result in, among other advantages, the country's participation in international carbon markets and projects that will benefit local communities.
According to Ivete Maibaze, the country can also “position itself as a relevant actor in the world, with possibilities of increasing carbon sinks, through climate-smart agriculture, forest preservation, reforestation and the blue economy”.
In 2018, Mozambique adopted national regulations for projects to reduce emissions from deforestation, forest degradation and increase carbon reserves (REDD+), a mechanism that recognizes the role of forests in mitigating the effect of climate change, as well as the need to compensate countries that contribute to this effect, through measures that promote forest conservation.
