Some companies in Zambia have been engaged in the lucrative and multi million dollars “carbon credits trading” business under the guise of environmental, forest and wildlife conservation , raking in millions of dollars without paying any notable fees, charges or revenue share with the Zambian government or Zambian communities.
The Zambian Government currently does not have any real mechanism or controls in place to make sure that these revenues are legally declared and appropriately shared. With the country have over 30% of its land reserved for game parks, game management areas and forests, the country is losing out on millions of dollar of revenue from farm credits trading.
The Ministry of Tourism and its department of wildlife has a great opportunity to turn themselves from a cost center of government, into a notable revenue generating centre if it urgently takes advantage of the fast growing carbon credits trading business.
But one company that is aware of this and is fully engaged to contribute to increased revenue generation for the Zambian government and its communities resident in the affect areas is African Parks. It’s Country Director James Milanzi has disclosed that the organisation intends to start trading in carbon credits in the medium to long term.
Speaking in an interview with the Zambian Business Times-ZBT, Milanzi said African Parks would engage the Ministry of Green Economy and Environment in order to start trading in carbon credits especially within the game management areas.
Milanzi added that even though the organisation does not manage game management areas, African Parks would like to help organisations that need help adding that this would be a good source of revenue for the communities.
He explained that the organisation is lining up discussions with government and has already constituted a board adding that carbon credit is a government policy and government is doing everything possible to actuate it.
“Definitely they would need our input because it is a long process, you have to prove that you are respecting the environment and all the indicators that denigrate the environment are now pushed down. So it’s a long process and requires a lot of discussions with those that provide funding for carbon credit”, he said.
“As you know African Parks manages these parks by creating a special purpose vehicle where all stakeholders are represented and it is this board that is engaging with government to ensure that the needs of Kafue National Park and areas around it are met, especially where government requires to deliver policy”, he said.
Some Private Companies have incorporated in Zambia and illegally making huge sums of money dealing in carbon credits taking advance of scanty regulation. Authorities have told ZBT that high level investigations are underway and that the affected companies risk facing appropriate sanctions and penalties for non declaration of historical revenues.
