Carbon Market Activity Update
The Ministry of Green Economy and Environment holds the mandate for the regulation of Carbon Market in Zambia and as such has embarked on the alignment of Zambia’s Carbon Market with Article 6 of the Paris Agreement to ensure the highest level of integrity.
Zambia’s Carbon Market activity can be divided into 3 categories:
Article 6.2 | Article 6.4 | Voluntary Carbon Markets (VCM)
A Carbon Market mechanism which facilitates for two or more countries to trade verifiable and authorised emission reductions through Bilateral Agreements. The Government of Zambia may enter into Bilateral Agreements with buyer countries, together they may identify and select eligible and authorised projects for emission trading under the umbrella of the agreement
A new international Carbon Market mechanism, the Paris Agreement Carbon Mechanism (PACM), that facilitates for countries and or private sector/companies to trade verifiable and authorised emission reductions under the supervision of the UN Framework Convention on Climate Change (UNFCCC).
An unregulated carbon trading and investment platform which facilitates for companies to voluntarily trade non-authorized and authorized emission reductions under the supervision of a Voluntary Carbon Standard.
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