2023-07-14 00:14:48
History was made in Victoria Falls Zimbabwe on 7 July 2023, the final day of the inaugural Africa Voluntary Carbon Credits Forum (AVCCM). Agreements were signed to initiate and install a regional (pan-African) Carbon Registry owned and operated in Zimbabwe, as well as a locally operated, owned and branded version of the first and leading global voluntary carbon platform, the Carbon Trade Exchange (CTX).
news-body-cta">This press release includes multimedia. See the full statement here:
Contracts Signed in Victoria Falls Zimbabwe (Photo: Business Wire)
The Victoria Falls Carbon Registry (VFCR) will support the migration of projects from Zimbabwe and other African nations, as well as the return of carbon credits to Africa to be reissued under its control. African nations wishing to participate will be offered a National Sublicensing and Registration Administration role within the VFCR to support, host, monitor and manage projects and credit issuance in their country. This low-cost solution negates the need for separate national registries. Project types, methodologies and registration fees will be at the discretion of the VFCR, and they expect to be supported by existing international carbon credit certification standards. Registry will be operational in August 2023 and will start accepting new or migratory projects as soon as the team is trained to do so. O Global Environmental Markets Group (GEM) will provide the technology with training in August.
The Victoria Falls Carbon Exchange (VFCX) will have immediate access through CTX to hundreds of international projects for buyers worldwide, millions of credits listed worldwide for T+0 clearing and settlement, as well as new credits issued by VFCR Registry instantly listed in the VFCX/CTX (globally) for the price the seller determines from that new registration. VFCX registry account holders may list via VFCX at no additional cost. A 5% fee on the sale of credits and no transfer or retirement fees.
The AVCCM event attracted a large global audience across the carbon market, as well as governments, banks and project developers who support the Zimbabwean government’s decision to bring carbon credits “home” under the UNFCCC Paris Agreement .
“This is the future Africa said it wanted in the Paris Agreement in 2015,” according to Wayne Sharpe, CEO and founder of Global Environmental Markets Group. This comes on the heels of COP27, where GEM and CTX made several presentations to various african nations. After speaking at the AVCCM event, Wayne added, “We’ve seen Carbon Credits’ passion and commitment in Zimbabwe and Africa. That’s why we developed this technology, to deliver financial and ecological benefits to nations on earth!”
Kwanele Hlabangana, Chairman and Co-Founder of AVCCM said: “Partnering with experienced leaders in world-class carbon market technology such as GEM and CTX is exciting. The responses from projects, communities and governments are exceptional. It’s a great opportunity to accelerate Africa’s entry into Global Climate to save our planet.” Grassroots approach plus community engagement combined with GEM’s proven and world-class Registry and Exchange technology fulfills the requirements for a credible, credible, transparent and vibrant African marketplace
The original language text of this announcement is the official authorized version. Translations are provided as a convenience only and must refer to the original language text, which is the only version of the text that is legally binding.
View the original version on businesswire.com:
Contact:
CTX/GEM:
Wayne Sharpe,
CEO & Founder
[email protected]
+44 7502 229523,
Source: BUSINESS WIRE
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