Zambia To Launch 4 Million Hectare Carbon Offset Venture

Zambia has signed a memorandum of understanding to plant trees, preserve forest and rehabilitate forested region across an area of more than 4 million hectares, around 5% of all land in Zambia. The memorandum was signed with two Chinese firms, with the intention of the zone to become a carbon offset venture.

Zambia’s Chinese partners are to be the Development Company of China, and Guangxi Fenglin Wood Industry Group.

One carbon credit is equivalent to one ton of carbon dioxide that is removed from, or preventing from entering, the atmosphere. Institutions emitting greenhouse gases have begun to buy carbon credits to offset their activities.

Forests’ trees and other plants pull carbon from the atmosphere, reducing the rate of carbon impact. A number of African nations, including Zimbabwe and Kenya, have large expanses of forest land, whose role as a ‘carbon sink’ has made them rich areas for carbon offset schemes.

Zambia’s project will produce 23.25 million lucrative carbon credits a year, employ 65,600 people, and also launch a 100,000 hectare plantation for slash pine, a timber favoured in heavy construction.