• The funds will support the country in establishing the necessary policy and regulatory framework for accessing the global carbon market
• Supporting preparedness for article 6 cooperation (SPAR6C) program provides an opportunity for Zambia to become one of the global frontrunners to getting access to a new global financing mechanism
• The program will support the country in establishing the necessary policy and regulatory framework for accessing the global carbon market
Minister of Green Economy and Environment says the German Government has allocated over 3 million Euros to Zambia to support the country to become better prepared to engage in carbon transactions that achieve both meaningful mitigation outcomes.
Speaking during the launch of the supporting preparedness for article 6 cooperation project in Zambia, Collins Nzovu said the funds will support the country in establishing the necessary policy and regulatory framework for accessing the global carbon market as well as in developing and implementing carbon financed programs and projects over a period of 5 years.
Engineer Nzovu stated that supporting preparedness for article 6 cooperation (SPAR6C) program provides an opportunity for Zambia to become one of the global frontrunners with regard to getting access to a new global financing mechanism provided by the Paris agreement supporting preparedness for article 6 cooperation, which allows for investments in climate change mitigation and adaptation activities.
He added that the program will support the country in establishing the necessary policy and regulatory framework for accessing the global carbon market as well as in developing and implementing carbon financed programs and projects over a period of 5 years.
“Such carbon financed programs and projects will not only support the country in achieving its Nationally determined contributions (NDC)and in increasing its ambition, they will also contribute to the achievement of Zambia’s sustainable development agenda, allow for technology transfer, protect the environment whilst fostering economic growth, create new job opportunities and improve the livelihoods of Zambia’s population, especially in rural areas,” he stated.
“I also wish to thank the German government for the support they have provided to Zambia through the International Climate Initiative; this indeed is a milestone achievement that will save as an example to the global community that article 6 cooperative approaches are indeed a possibility and that they work,” he said.
