Zambia Remains Ready To Join Other Leaders In The Implementation Of Article 6 - Hon. Mposha ​

ZAMBIA REMAINS READY TO JOIN OTHER LEADERS IN THE IMPLEMENTATION OF ARTICLE 6 – HON. MPOSHA
Lusaka, Thursday, 29th August, 2024 – Minister of Green Economy and Environment Hon. Mike Mposha MP says Zambia remains ready to join other leaders in the implementation of Article 6 as the Carbon Market mechanism in the fight against climate change.
During the High-level Policy Dialogue with a delegation from Germany, Hon. Mposha noted that climate change is one of the major challenges the world is facing today and all countries either in the north or south of the globe are experiencing increased frequency and intensity of extreme weather events such as temperatures, droughts or floods.
He said the Government understands that the Carbon Market is a new territory and is eager to prepare itself with knowledge and capacity to make optimum use of this new innovative source of financing stream for project implementation
“Just last week, the Zambian Government through my Ministry signed a Memorandum of Understanding with Sweden through the Swedish Energy Agency, as a first step in commencing negotiations of a bilateral agreement,” he said.
“And with all this said, there is still much more to be done, and we see more opportunities of cooperation under Carbon Markets including furthering our collaboration with the German Government, our all-weather development partner.”
The Honourable Minister said there was need to further knowledge and capacity building for the private, public and financial sector in the implementation of Article 6.
Hon. Mposha said availability of resources and resource mobilization for the implementation of mitigation activities and the operationalization and administration of Carbon Market activities remains a biggest challenge.
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And Parliamentary State Secretary for the German Ministry of Economic Affairs and Climate Action
Mr Stefan Wenzel said climate change is a challenge for all nations.
Mr. Wenzel said there was need to collaborate on the Paris Agreement and that Germany was ready to engage with Zambia through its private sector.
The Ministry of Green Economy and Environment (MGEE) chaired the first regional High Level Policy Dialogue on Carbon Markets in Sub-Saharan Africa.
The event was supported by the German government through the Supporting Preparedness for Article 6 (SPAR6C) Programme.
The aim of the High-Level Policy Dialogue was to discuss the role of carbon markets in the achievement of Nationally Determined Contributions (NDCs). Discussions focused on Carbon Markets under the Paris Agreement, and the opportunities and risks for host countries. Furthermore, participants from the various countries shared their statuses of National Carbon Market Frameworks, the key barriers perceived and the nature-based solutions and implications for Carbon Markets under the Paris Agreement.
 
 
The Paris Agreement, signed by 197 countries in 2015, represents a historic global effort to combat climate change by limiting global warming to well below 2 degrees Celsius above pre-industrial levels. Article 6 of the agreement is the cornerstone for international cooperation, fostering global Carbon Market mechanisms that enable countries to reduce greenhouse gas emissions while fostering low carbon development.
In attendance were delegates from; MGEE, the German Ministry of Economic Affairs and Climate Change, the German Embassy in Zambia, GGGI, GIZ as well as Climate Change focal points from Kenya, Senegal and Zambia.
MGEE Communications Unit