Climate change indaba set for Byo
BULAWAYO City Council in collaboration with the African Voluntary Carbon Credits Market Forum (AVCCMF) is set to host the upcoming Climate Change, Carbon Markets and Sustainability Indaba next week, a partnership expected to contribute significantly to policy development that will strategically position Bulawayo as a green city.
The second edition is scheduled for July 17 to 18, following the inaugural event, which took place in Victoria Falls last year.
This year’s conference aims to enhance awareness of Climate Change and Climate Finance and to encourage local actions to access Climate Finance.
Hosting the event will contribute to the development of policies that aim to establish Bulawayo as a green city and a leader in sustainability, while also impacting the national discourse on the Climate Change Management Bill.
The concept of the climate economy is gaining global acceptance, focusing on the belief that economic growth and environmental sustainability can mutually support each other.
It aims to unleash fresh economic development opportunities by tackling climate change.
Town Clerk, Mr Christopher Dube, told the General Purposes Committee that the AVCCMF has approached the local authority seeking partnership in organising and hosting the Climate Change, Carbon Markets and Sustainability Indaba.
Mr Dube noted that as an industrial hub, the city possesses untapped potential in the Climate Economy, which, if developed and utilised, could transform Bulawayo’s economy and positively affect the community and stakeholders.
“The conference was aimed at raising awareness on Climate Change and Climate Finance, stimulate local level actions for tapping into Climate Finance. The conference would be attended by key Government ministries such as the Ministry of Lands, Agriculture and Rural Resettlement, Ministry of Industry and Commerce as well as the Ministry of Finance, Economic Development and Investment Promotion.
“AVCCMF was going to co-ordinate the conference and bring in its international partners and experts to help in unpacking the pertinent issues around Climate Finance and how Zimbabwe can tap into this economy,” said Mr Dube.
On a national scale, Mr Dube said following the El Nino-induced drought ravaging the country, the Government had declared a state of disaster in the country.
The declaration intended to open the country for international support to ameliorate the devastating impact of Climate Change.
“Zimbabwe was a signatory to the Paris Agreement on Climate Change signed in 2015, despite being a signatory to the Paris agreement Zimbabwe still struggles due to restricted access to funding.
“The Paris Agreement opened an opportunity for developing countries to access Climate Finance through which they could fund climate change projects.”
During the two-day conference, topics expected to be tackled by delegates include an overview of climate change and the role of cities in pollution debacle and how Bulawayo can position itself for tapping into Climate Finance.
Mr Dube noted that as the world was now moving to eco-friendly way of industrialisation it was imperative that Bulawayo embraced climate change interventions and sustainable industrialisation.
“Working with AVCCMF would assist the City in contributing to the Climate Change Management Bill,” he said.
Last year, the Government introduced a carbon credit framework, which entails collecting 50 percent of the revenue from the sale of climate mitigation securities. The proceeds from carbon credits will be allocated to the National Climate Fund, dedicated to financing eco-friendly projects.
Local investors’ revenue is limited to 30 percent, while foreign investors are guaranteed a minimum of two percent. The Government invalidated all existing offset programmes, mandating that security producers comply with the new regulations within two months, including surrendering half of their revenue.-chroncile
