The voluntary carbon market is gaining momentum in Africa, with Tanzania revealing that it will receive at least $20 billion investment for carbon offset credits from more than 20 companies around the world.
Selemani Jafo, Minister of State in the Vice President’s Office, Union and Environment, emphasized that the adoption of legislation on carbon trading in the country last year brought in over $1 billion investment. This money will be used to fund carbon trading activities across Tanzania.
He also noted that carbon credit trading will help the country’s Nationally Determined Contributions. Tanzania aims to cut greenhouse gas emissions by 30%-35% by 2030.
