Carbon credit exchange set

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TRADING on the Africa Carbon Credit Exchange (ACCE), which is a bourse that will create a platform for individuals and firms to raise capital for various green (environmental friendly) projects, is expected to start next year once Cabinet approves the process, ACCE director Sabera Khan has disclosed.


Ms Khan said once operational, the exchange will unlock finance and investment opportunities in the African carbon market by providing a trading platform for buying and selling instruments to undertake projects in renewable energy and forest preservation.
Players in the agriculture, green fertiliser and recycling sectors can also use the exchange to raise capital.


“We are waiting for Government to finalise the legal framework .The process is being fast-tracked by the Ministry of Finance and Cabinet office and once everything is done and gets Cabinet approval, we will start operating and spread the exchange across Africa,” Ms Khan said in an interview on Friday.


She said the current load shedding in the region presents an opportunity for the private sector to invest in alternative sources of energy such as solar and wind energy and the exchange will provide a platform to raise funds.


Ms Khan said there is need for the African continent to undertake environment- friendly projects in view of the effects of climate change occurring globally.
She said ACCE will, therefore, provide tradeable instruments that will help in conserving the environment.


“The world is moving towards green environment, African Development Bank (AfDB) issues green bonds which are usually bought by countries such as Japan, New Zealand and Australia, so we want Zambia to be a financial hub that will trade in green instruments,” she said.