Zimbabwe Launches Blockchain-Based Carbon Credit Registry to Enhance Transparency

According to PANews, Zimbabwe has officially launched a blockchain-based carbon credit registry aimed at improving the transparency of transactions and restoring investor confidence. The country's Minister of Environment, Evelyn Ndlovu, announced at the launch event in Harare that the system, developed by A6 Labs from Dubai, allows for the issuance, trading, and cancellation of carbon credits with complete traceability, ensuring data integrity.

Previously, Zimbabwe faced challenges after abruptly canceling several carbon credit projects in 2023 and imposing a 50% tax on revenues, which disrupted operations for international developers, including the Kariba Redd+ project.

Last week, Zimbabwe also established the Carbon Market Management Authority (ZCMA) to oversee project approvals. According to 2023 data from California-based RippleNami, Zimbabwe's carbon credit production represents 12.5% of Africa's total, ranking third on the continent. Washington Zhakata, Permanent Secretary of the Ministry of Environment, emphasized that developers must submit compliance applications through the platform zicma.org.zw to conduct business.

Other African nations, such as Kenya and Zambia, are also strengthening regulations in this sector.