Mozambique’s Ministry of Land and Environment announced a new plan to take action in the carbon market.
This plan aims to regulate carbon trading. The African Carbon Markets Initiative (ACMI) backs the plan.
ACMI gets funding from various global partners. An inter-ministerial team is overseeing the project. This team includes experts from Belgium, Sweden, and the Tony Blair Institute.
In parallel, the U.S. Government is stepping in. Through USAID, they launched a program called PLANETA.
This three-year initiative will invest over $2 million. The money will go into nature-based carbon capture projects.
CrossBoundary LLC is implementing PLANETA. The program will support about 10 initiatives.
These initiatives will link Mozambican developers with international markets. Mozambique has huge carbon storage potential in its forests.
Both plans show financial and environmental gains for Mozambique. Ivete Maibaze, the Minister, said carbon markets offer a new revenue stream.
PLANETA also offers dual benefits. Helen Pataki, USAID’s Mission Director, said the program is a win-win.
These efforts are part of broader global support for Mozambique. The U.S. Government gives over $700 million in grants each year.
Through these steps, Mozambique aims to be a key player in climate change efforts.
Background Mozambique Carbon Market
These partnerships signal a shift in global climate strategy. The world acknowledges the country’s vital role in carbon capture by focusing on Mozambique.
This is particularly timely as the climate crisis escalates. Moreover, joining ACMI and launching PLANETA can act as models for other nations.
They provide a roadmap for developing countries to engage in global carbon markets. Economically, this can bring fresh revenue streams to Mozambique.
This income can fund more green initiatives and drive sustainable growth. These plans offer a balanced approach to financial gain and environmental protection.