{"id":79089,"date":"2023-08-22T01:00:44","date_gmt":"2023-08-22T01:00:44","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/2023\/08\/22\/zimbabwe-and-mozambique-are-looking-to-regulate-their-carbon-markets\/"},"modified":"2023-08-22T01:00:44","modified_gmt":"2023-08-22T01:00:44","slug":"zimbabwe-and-mozambique-are-looking-to-regulate-their-carbon-markets","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/climate\/2023\/08\/22\/zimbabwe-and-mozambique-are-looking-to-regulate-their-carbon-markets\/","title":{"rendered":"Zimbabwe and Mozambique are looking to regulate their carbon markets"},"content":{"rendered":"

<\/a>Zimbabwe <\/strong>announces national carbon market strategy:<\/strong> Carbon credit developers based in Zimbabwe will retain 70% of revenues from carbon offsetting projects while the state will keep 30% of credit sales under an environmental tax, Reuters<\/a> reports. Zimbabwe\u2019s new voluntary carbon market regulations aim to combat what officials described as climate washing<\/a>. \"All existing carbon credit projects deemed null and void shall be given 60 days ... to comply with the provisions,\" the regulations document said. The new policies will be valid for the first decade of a carbon-credit generating project\u2019s lifecycle, with the share of proceeds being subject to renegotiation from the eleventh year.<\/p>\n

ALSO<\/strong>- Mozambique plans to follow suit: <\/strong>Mozambique is preparing draft policies to regulate its carbon market starting 2024, Bloomberg<\/a> writes, citing an inter-ministerial task team presentation. The new carbon credit policy should present the value potential of the market and attract investors, the country\u2019s Finance Ministry Advisor Pedro Sim\u00e3o told Bloomberg. Mozambique has the potential to produce between 80-90 mn carbon credits annually \u2014 4% of Africa\u2019s total output, according to government figures<\/a>. The government has not yet determined a revenue split framework between investors and the state.<\/p>\n

The US is imposing import duties on solar panel manufacturers who complete the making of their products in Southeast Asia,<\/strong> Reuters<\/a> reported citing a senior official from the US Commerce Department. The decision comes in efforts to stop manufacturers bypassing tariffs on Chinese-made goods through the loophole of finalizing manufacturing in neighboring countries. The decision has garnered some controversy from solar companies that rely on importing cheap equipment made overseas to make their projects competitive, the newswire said, adding that US local solar manufacturers on the other hand were relieved with the new law that will see their products become more competitive relative to Chinese ones. Late last year, the Commerce Department found that some units of Chinese companies BYD, Trina Solar, Vina Solar, and Canadian Solar were dodging US tariffs<\/a> on Chinese solar panels by making minor finishes to their products in Cambodia, Malaysia, Thailand and Vietnam, before shipping them to the US market.<\/p>\n

OTHER STORIES WORTH KNOWING ABOUT THIS MORNING-<\/strong><\/p>\n