AT least three million people in a span of 30 years are expected to benefit from a robust carbon trade programme implemented in Tabora Region by a local company.
Aimed at reducing Green House Gasses (GHGs) emissions, it is also expected to offer not less than 1.5 million direct and indirect jobs.
The Tabora Carbon Credit Harvest and Purchase Programme (CCHPP) is being implemented by Living way (URT) Limited, in partnership with the Tanzania Forest Service Agency (TFS).
According to the company’s Deputy Director General, Dr Ernest Irungu, the investment is expected to yield millions of cubic tonnes of GHGs over the next 30 years.
Elaborating, he noted that the initial capital investment for the next five years was 40 million US dollars (about 95bn/-), adding that the programme is being implemented in 23 forest reserves in Tabora Region, comprising over 3.6 million hectares of land.
“The programme has the potential to reduce GHGs emissions of land uses, attract carbon credit funding and support communities to become strong partners for the conservation of forest resources in Tabora Region,” he noted.
Dr Irungu was speaking at a tree planting event at the Buigiri Secondary School in Chamwino District, Dodoma Region. The event which was graced by Deputy Minister in the Vice-President’s Office (Union and Environment), Khamis Hamza Khamis was coordinated by URT Ltd.
He further said that the millions of tonnes of carbon credits can accrue up to 10-20 US dollars per credit.
“In addition, income from the carbon credit transactions will expand company investments and partnerships for tapping other ecosystem based goods and services and as well create an alternative economic base and promote economic development,” he said.
The deputy DG added that the CCHPP was aligned with the global carbon credit initiatives as one of the innovative, value-addition conservation financing options with the potential to contributing to sustainable forest Management.
He said the programme was developed with the core values of empowering communities, stimulating economic development and promoting sustainable forest Management as primary conditions for yielding carbon credit.
Dr Irungu further said that the major partnership areas were carbon credit investments including carbon stock quantification and addressing drivers of deforestation and forest degradation.
Others are investments in beekeeping, sustainable agriculture and livestock keeping, forest fruits and mushrooms, fishery and fish products, fresh water plants, sustainable timber and low emission energy development.
Speaking at the event, the deputy Minister asked all companies dealing with carbon business to intensify awareness campaigns to Tanzanians on carbon credit as majority of them are not aware of the business.
“People need to know what it means by carbon credit, opportunities found there and how to benefit,” noted Mr Khamis.