Tuesday, June 18, 2024

Germany gives Zambia €3m to prepare for carbon transactions



THE German government has given Zambia €3 million for technical assistance and capacity building to become better prepared to engage in carbon transactions that achieve both meaningful mitigation outcomes and sustainable development co-benefits.
The €3 million is a German cooperation programme dubbed “Supporting Preparedness for Article 6 Cooperation (SPARC6C) that aims to support Zambia in its efforts to contribute global climate protection.

During the launch of SPARC6C in Lusaka today, Germany Ambassador to Zambia Anne Wagner-Mitchell said the programme will help to realise investment projects both by the government, but especially also by the private sector, in national climate projects.

Ambassador Wagner-Mitchell said projects fostered by the SPARC6C will not only benefit climate protection, but can also contribute to a variety of other Sustainable Development Goals.

She said among projects expected to benefit from SPARC6C include new renewable energy projects which can help to improve and stabilise energy supply, which in turn has positive effects on economic growth and the creation of jobs and employment.

“Projects in the waste sector, which reduce greenhouse gas emissions, also make an important contribution to the sustainable development of cities and municipalities and to responsible consumption and production. A circular economy which reuses materials and which reduces waste that pollutes water resources and soil, has positive impacts on the health and well-being of the population, ” Ambassador Wagner-Mitchell said.

And minister of Green Economy and Environment Collins Nzovu said the key objective of SPARC6C is supporting all required activities that contribute to establish Article 6 transactions and the preparation of up to three ambitious greenhouse gas reduction projects or programmes by 2027.

Mr Nzovu said the priority of the SPARC6C project is to help Zambia establish a national registry for all Article 6 projects and transactions in order for us to measure success.

“Additionally, the programme will support Zambia in establishing the necessary policy and regulatory framework for accessing the global carbon market, and in developing and implementing carbon financed programs and projects over a period of five years,” he said

Mr Nzovu said SPARC6C provides a unique opportunity for Zambia to become one of the global front-runners 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, both by the government and the private sector.

“Most importantly however, such carbon financed programmes and projects will not only support the country in achieving its 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 whilest fostering economic growth, create new job opportunities and improve the livelihoods of Zambia’s population, especially in rural areas,” he said

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