DAR ES SALAAM: Tanzania could become a major player in global carbon markets thanks to its vast forests and expanding clean-energy initiatives, stakeholders said during a policy dialogue aimed at attracting investment into the sector.
The discussion was organised by the United Nations Capital Development Fund under the CookFund programme supported by the European Union.
Participants from government institutions, private companies and development partners said the country has strong potential to generate carbon credits through forest conservation, renewable energy and clean cooking initiatives.
About 34% of Tanzania’s land area is covered by forests and wildlife reserves, providing opportunities for projects that reduce greenhouse-gas emissions through conservation and reforestation.
Tanzania’s National Clean Cooking Strategy aims to ensure that 80% of the population adopts clean cooking energy by 2034, which could generate carbon credits linked to reduced emissions from traditional biomass fuels.
Experts noted that regional countries such as Kenya and Rwanda have already attracted carbon market investment through supportive regulations and stronger institutional frameworks.
Officials from the National Carbon Monitoring Centre said the government is working to develop regulations and guidelines to support transparent carbon trading and ensure national benefits from the sector.
Global demand for carbon credits has been growing as companies seek to offset emissions and meet climate commitments under the United Nations Framework Convention on Climate Change.
