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Daily Maverick
8 hours ago
- Business
- Daily Maverick
Novel carbon credits initiative gives Zimbabwe an edge, but concerns remain over cost barriers
A new blockchain-based carbon credit registry could have 'profound' implications, but the costs are prohibitive and the risks of greenwashing remain. Zimbabwe's establishment in May of a regulatory body and launch of a blockchain-based platform for carbon credits – the first of its kind worldwide – has received plaudits from some experts, who say the move will enhance transparency and also make the southern African country a leader in the burgeoning field. However, some are wary that high costs will deter investment. Carbon credits, also known as carbon offsets, are tradeable units in the form of a certificate or permit that represents the emission, reduction or removal of one metric ton of carbon dioxide or equivalent greenhouse gas into the atmosphere in exchange for a monetary payment. There are two main types of carbon credit, namely compliance credits, which are issued under regulated carbon markets, and voluntary credits, which are largely unregulated. Zimbabwe's digital platform has three components, which include the general website for the Zimbabwe Carbon Markets Authority, which oversees all issues related to carbon credits, and the Zimbabwe Carbon Registry, in compliance with the UN Framework Convention on Climate Change and Article 6 of the Paris Agreement. This requires parties participating in the new market mechanism to have a national registry or have access to a registry to track all the carbon credits generated within their jurisdiction. A third component of the platform, which the Ministry of Environment, Climate and Wildlife says is still under development, is the marketplace that will allow buyers to directly purchase credits from the Zimbabwe Carbon Registry, 'eliminating the need for third-party brokers, thereby ensuring that project developers accrue the maximum benefits possible'. In response to questions on the initiative, permanent secretary in the ministry Tadeus Chifamba told Daily Maverick, 'This is critical in making sure that carbon credits generated in Zimbabwe are of the highest quality and standards and fetch the highest possible price on the international market, thereby maximising benefits for the country and communities.' 'Profound implications' According to global carbon market players, Zimbabwe is ranked the third-largest contributor of carbon credits in Africa, providing nearly 13%, behind Kenya and Gabon. In 2023, the government cancelled carbon credit projects and compelled operators to re-register, demanding up to 50% of revenue, following reports of fraudulent activities by a local project, Carbon Green Africa, which was sponsored by Swiss-based South Pole, one of the world's biggest project development firms. Under the new system, Zimbabwe becomes the first country to do away with the issuance and use of voluntary credits, transitioning to a compliance-only market by 2026, but credits issued in the country can still be used for voluntary purposes, with the proviso that they must comply with the higher quality assurance and accountability measures of the compliance market. Kudakwashe Manyanga is the founder and CEO of the Africa Institute for Carbon Trading and an industry expert. He told Daily Maverick that while the global carbon credit market has largely been voluntary, establishing a robust regulatory framework 'can provide necessary oversight and legitimacy'. 'A blockchain-based system can help ensure that carbon credits are genuinely produced, verified and retired, thereby increasing the integrity of the market and potentially attracting more participants. The implications for Zimbabwe could be profound. 'By implementing a well-regulated carbon market with a transparent registry, Zimbabwe is likely to attract both local and international investments in carbon reduction projects. Investors are increasingly seeking assurance that their contributions lead to tangible environmental benefits. A credible carbon registry could enhance Zimbabwe's attractiveness as a destination for climate finance, positioning the country as a leader in sustainable development in the region.' Mnanyanga, however, said the high fees associated with participating in the market were prohibitive and could sideline community-based projects, which he said often lacked adequate funding. The Statutory Instrument on Carbon trading regulations [ S.I. 48 Carbon Trading (General) Regulations of 2025 ] sets out various fees required for participation in the industry. For instance, there are three project categories. The registration fee for the biggest project is US$20,000, the second-biggest is $15,000 and the third-biggest is $10,000. There are other fees, including a first-time registration fee as a project developer, which is set at $5,000 for foreigners and $2,500 for locals. Greenwashing risks Michael Musgrave, of Newt Natural Capital, an advisory firm, is an academic and expert in carbon finance. He agrees that the costs involved in Zimbabwe's new system are prohibitive and says that in an industry which does not yet have many experts, overregulation is not the answer to ensuring that problems like greenwashing – a practice in which corporates may make unsubstantiated claims that their products are environmentally friendly or have greater positive environmental impact than they really do – do not occur. 'There are barriers in place in terms of regulation and certification, and government regulations introducing another layer of costs just make carbon credits less viable. The problems around monitoring, reporting and verification are not unique to Zimbabwe or Africa; they are problems that every carbon project experiences and we need as an industry to solve the problems globally, or at least on the continent, by training or upskilling people and having more expertise applied to the implementation of these projects, not by introducing more regulations. 'I really don't see that as a way of reducing greenwashing. There is a role for government to play, but I think it is a small regulatory role that should be well thought out and avoid the approach of just saying, 'well, everybody else is making money and we are not making money and therefore we will introduce regulations that enable us to make money. The justification is that they are looking out for the interests of Zimbabweans, but this is hardly the case.' The Centre for Natural Resource Governance is a local environmental advocacy group. In its statement on the latest development, the civic organisation also bemoaned that upfront fees required to establish and maintain carbon credit projects could be a hurdle for Zimbabwean businesses and organisations, saying that a lack of financial resources might limit their ability to invest in renewable energy projects or implement carbon emissions reduction strategies. 'Despite the potential financial windfalls that can accrue from carbon trading, we must state that it remains a false solution to climate change and is subject to manipulation by the private sector. Governments can also generate massive revenues for and on behalf of communities without ever ensuring the benefits extend to the communities,' the organisation said. 'National asset' Permanent secretary Chifamba dismissed concerns that the costs were a barrier to entry and that local communities were disadvantaged, saying the regulations actually protected communities 'from prejudice of the past', under the voluntary trade, which he said lacked transparency. 'It costs money for the government of Zimbabwe to assess proposed projects before approval or rejection in line with internationally set environmental integrity, social safeguards and sustainable development guidelines. The government cannot be expected to take money from treasury to subsidise profit-making project developers. 'Additionally, the export of carbon credits should be recognised as the export of any other asset, such as gold, diamonds or platinum and should be subject to royalties and export taxes by the government. These are national assets which belong to all Zimbabweans and there should be a mechanism to ensure that treasury or a designated national fund set out for the purposes of addressing climate change benefits from a certain percentage of the share of proceeds,' he said. Dr Francis Vorhies, the director of Stellenbosch University's African Wildlife Economy Institute and a research associate at the Wildlife Conservation Research Unit at Oxford University, told Daily Maverick that the distribution of revenue from carbon credits was a domestic issue. He believed that in Zimbabwe, the arrangements between government, business and landowners, as well as local communities, could be discussed and debated robustly for the benefit of all parties. Dr Vorhies said that while the initiative could give Zimbabwe a competitive edge because of its technical sophistication, which could guarantee transparency, Zimbabwe's global image could be a setback. 'The country does not have the best of reputations for doing business, and so investors may fear that such a state-run mechanism risks being too burdensome and too costly, and thus stay away.' DM
Indian Express
5 days ago
- General
- Indian Express
Methane mitigation, key to slowing global warming
— Renuka Reducing Greenhouse Gas (GHG) emissions is crucial to fighting climate change. After carbon dioxide, methane is the most potent GHG responsible for approximately a third of global warming. It is a colourless, odourless gas that has both natural as well as anthropogenic sources. Naturally, it is produced in a wetland due to the decomposition of vegetation under water. Other natural sources include termites, volcanoes, wildfires, etc. The primary sectors responsible for anthropogenic methane emissions are: Agriculture, which accounts for 40% of emissions and includes animal manure and rice cultivation. After this, the fossil fuel sector accounts for 35% of methane emissions. Waste management is responsible for roughly 20% of emissions, originating from the decomposition of organic matter in landfills, open dumps, and wastewater treatment systems. Methane is widely used as a fuel for electricity generation, heating, cooking, and in industrial processes. It also serves as a key feedstock for hydrogen, ammonia, and methanol production, and is used in transportation (CNG/LNG) and as renewable biogas. Despite its utility, methane emerged as a major climate concern. It has a shorter lifespan compared to CO₂ but is much more efficient in trapping radiation. As the climate crisis intensifies, tackling methane emissions has become an urgent and impactful strategy for reducing GHG emissions. Reducing methane emissions has long been a part of climate change mitigation efforts. The 1992 UN Framework Convention on Climate Change (UNFCCC) laid the foundation to combat climate change by adopting the principle of Common but Differentiated Responsibilities and Respective Capabilities (CBDR-RC) and placing the obligation on developed countries to reduce GHG emissions. However, being just a framework convention, the UNFCCC didn't specify the GHGs or set binding targets. To implement the convention, the Kyoto Protocol was adopted in 1997 and came into force in 2005. It listed six GHGs, and methane was one of them. The Kyoto Protocol imposed binding emission reduction targets on developed countries. The Paris Agreement, adopted in 2015, marked a shift towards a voluntary approach (nationally determined approach), while still expecting developed countries to take the lead in setting emissions targets. In recent years, abating methane emissions has been recognised as one of the most effective and affordable strategies to reduce global warming. At COP 26, the Global Methane Pledge (GMP) was launched as a voluntary international initiative with its primary goal of reducing global methane emissions by at least 30 per cent from 2020 levels by 2030. To enhance global reporting on methane emissions, the United Nations Environment Programme (UNEP) also launched the International Methane Emission Observatory (IMEO). To further support methane data collection, the UNEP launched the Methane Alert and Response System (MARS) at COP27 (2022). MARS is a global satellite detection and notification system that provides data on methane emissions. Building on these efforts, COP 28 established the Oil and Gas Decarbonisation Charter (ODGC), which aims at accelerating the decarbonisation of the oil and gas sector. The charter aims at achieving net-zero upstream methane emissions by 2030. At COP29 in Baku, Azerbaijan, over 30 countries endorsed the Declaration on Reducing Methane from Organic Waste, marking a significant advancement in global climate initiatives. This declaration targets methane emissions from organic waste, such as food scraps, agricultural residues, and sewage, which account for nearly 20% of anthropogenic methane emissions. The Global Methane Initiative (GMI), launched in 2004 as the Methane to Markets Partnership, is an initiative to foster collaborations to reduce methane emissions. It works in collaboration with other key international environmental initiatives and agencies such as the Climate and Clean Air Coalition (CCAC), the Global Methane Hub, and the World Bank Group to reduce global methane emissions. Over the past two decades, GMI has helped raise global awareness about methane's climate and health impacts, fostered international cooperation, and mobilised investments in methane mitigation efforts. GMI has also been a key sponsor of various events on methane mitigation. One such event is Methane Mitigation: Technology & Innovation Summit, which will be held on June 2-4, 2025, in Austin, Texas, US. Organised by the Industrial Decarbonisation Network, the summit will bring together energy companies, NGOs and technology innovators. It will serve as a knowledge-sharing platform dedicated to reducing methane emissions from the energy sector. The discussion will largely be focused on exploring cutting-edge solutions and best practices for measuring, monitoring, and reducing methane emissions in the oil and gas sector. India has not signed the Global Methane Pledge, primarily due to concern over the shift in focus from CO2 – which has a lifespan of around 100 years – to Methane – which has a lifespan of 12 years. India's major sources of methane emissions are the livestock sector through enteric fermentation and agriculture through paddy cultivation. These sources are linked to the subsistence activities of small and marginal farmers. Implementing the GMP could negatively impact farmers' incomes, rice production, and India's significant role in global rice exports. Also, these emissions in India are considered 'survival emissions' – essential for food security – not 'luxury emissions', unlike in developed nations where agriculture is industrialised. To reduce methane emissions, no additional burden can be imposed on the small farmers who are already economically marginalised. Nonetheless, India has undertaken measures to reduce methane emissions. Under the National Mission for Sustainable Agriculture (NMSA), the government is promoting methane-reducing practices in rice cultivation. Methane mitigation initiatives such as the system for rice intensification, direct seeded rice, and the crop diversification programme are being implemented. Also, to reduce methane production in livestock initiatives such as breed improvement and balanced rationing, have been taken by The Department of Animal Husbandry and Dairying (DAHD), through the National Livestock Mission. Programmes like GOBAR-Dhan and the National Biogas and Organic Manure Programme incentivise the use of cattle waste for biogas production and organic manure, promoting clean energy and lowering greenhouse gas emissions in rural areas. Methane is responsible for around 30% of global warming. If left unaddressed, global methane emissions caused by human activities are expected to increase by as much as 13% between 2020 and 2030. Reducing methane emissions is the most important climate step the world can take. However, it is easier said than done, especially for a developing country like India, where methane emissions are related to food security. To tackle the situation, a substantial flow of climate finance from developed to developing countries would enable ambitious climate action, including slashing methane emissions. Additionally, crop diversification schemes would aid the efforts by encouraging a shift away from monoculture towards a more varied and sustainable agricultural system. Similarly, the energy sector, which also accounts for significant methane emissions, offers some of the most immediate and cost-effective opportunities for methane reduction. Developed countries, having historically been the largest producers and consumers of fossil fuels, are well-positioned to lead reforms. They may choose to incentivise methane reduction in developing countries through climate finance, technology transfer, and capacity building. Moreover, cutting methane emissions from the fossil fuel sector is easier to detect and measure and having relatively few large companies as actors can make the enforcement a lot easier as compared to the agriculture sector, where solutions are linked to livelihoods and food security. The upcoming Methane Mitigation Summit has the potential to accelerate action in the energy sector and success here could set the stage for broader efforts across harder to abate sectors. Post Read Questions Why has reducing methane emission been recognised as one of the most effective and affordable strategies to reduce global warming? Why has India not joined the Global Methane Pledge? Analyse the socio-economic and agricultural factors behind this decision. Discuss measures India has undertaken to reduce methane emissions. How do programmes like GOBAR-Dhan and the National Biogas and Organic Manure Programme contribute to methane mitigation? Evaluate the effectiveness of sector-specific approaches (such as energy and agriculture) in addressing methane emissions. What lessons can be drawn from India's domestic efforts? Analyse the role of international platforms like COP summits in shaping methane mitigation strategies. How effective have these efforts been in addressing methane emission? (Renuka is a Doctoral researcher at Himachal Pradesh National law university, Shimla.) Share your thoughts and ideas on UPSC Special articles with Subscribe to our UPSC newsletter and stay updated with the news cues from the past week. Stay updated with the latest UPSC articles by joining our Telegram channel – IndianExpress UPSC Hub, and follow us on Instagram and X.
See - Sada Elbalad
15-05-2025
- Business
- See - Sada Elbalad
BRICS countries approve Cerrado Declaration on Sustainable Tourism Development
H-Tayea BRICS tourism ministers met in Brasilia. The key outcome was the approval of the Cerrado Declaration, which consolidates the desire of the member countries to promote sustainable, inclusive and environmentally friendly tourism. This is reported by the official website of the Brazilian Government, according to TV BRICS. The event was headed by the Minister of Tourism of Brazil Celso Sabino. The document was so named in honour of one of the largest natural biomes of the Republic and the second largest in Latin America after the Amazon – Cerrado. "The Cerrado Declaration was a significant event in the history of world tourism. The BRICS countries represent the largest economy, the largest consumer market and the largest tourism community. This document defines how our countries should build their tourism policies," Sabino emphasised. The declaration identifies three priority areas for international cooperation in this field: Regional Tourism Development. This includes improving infrastructure, expanding tourism offerings, and training personnel. Promotion of sustainable and regenerative tourism. Suggests sharing experience, introducing green practices and supporting local communities. Attracting digital nomads. It is recommended to simplify the visa regime, improve the quality of the Internet and create conditions for remote work. During the event, the Brazilian minister also announced that at the 30th Conference of the Parties to the UN Framework Convention on Climate Change (COP30) in Belem, a separate day will be fully dedicated to the issue of sustainable tourism. read more Gold prices rise, 21 Karat at EGP 3685 NATO's Role in Israeli-Palestinian Conflict US Expresses 'Strong Opposition' to New Turkish Military Operation in Syria Shoukry Meets Director-General of FAO Lavrov: confrontation bet. nuclear powers must be avoided News Iran Summons French Ambassador over Foreign Minister Remarks News Aboul Gheit Condemns Israeli Escalation in West Bank News Greek PM: Athens Plays Key Role in Improving Energy Security in Region News One Person Injured in Explosion at Ukrainian Embassy in Madrid News Egypt confirms denial of airspace access to US B-52 bombers Lifestyle Pistachio and Raspberry Cheesecake Domes Recipe News Ayat Khaddoura's Final Video Captures Bombardment of Beit Lahia News Australia Fines Telegram $600,000 Over Terrorism, Child Abuse Content Arts & Culture Nicole Kidman and Keith Urban's $4.7M LA Home Burglarized Sports Former Al Zamalek Player Ibrahim Shika Passes away after Long Battle with Cancer Sports Neymar Announced for Brazil's Preliminary List for 2026 FIFA World Cup Qualifiers News Prime Minister Moustafa Madbouly Inaugurates Two Indian Companies Arts & Culture New Archaeological Discovery from 26th Dynasty Uncovered in Karnak Temple Business Fear & Greed Index Plummets to Lowest Level Ever Recorded amid Global Trade War
New Indian Express
09-05-2025
- Business
- New Indian Express
Methane emissions remain high, 120 million tonnes released in 2024
The IEA's data, drawn from satellite observations, measurement campaigns and scientific studies, indicates that global energy-related methane emissions are approximately 80% higher than those reported to the UN Framework Convention on Climate Change (UNFCCC). The gap is the smallest in Europe, where measurement-based reporting is more prevalent. In 2024, oil operations emitted about 45 Mt, natural gas 35 Mt, and coal 40 Mt, with abandoned wells and mines adding 8 Mt—a new metric in this year's tracker. These abandoned facilities alone would rank as the world's fourth-largest fossil fuel methane emitter. Satellites are revolutionising methane monitoring, with over 25 now in orbit, including MethaneSAT and Tanager-1, launched in 2024. These tools detected a record high in large methane leaks from oil and gas facilities last year, despite reduced coverage. GHGSat's 16,400 observations in 2024 identified nearly 11,700 leaks, 9,600 from oil and gas. 'Satellites are game-changers, exposing persistent leaks and guiding regulatory action,' said Jane Ellis, a senior IEA analyst. The economic case for methane abatement is compelling. About 30% of 2024's fossil fuel methane emissions could have been avoided at no net cost, as captured gas often offsets abatement costs. Leak detection and repair (LDAR) programmes and equipment upgrades, like swapping wet compressor seals for dry ones, can yield returns exceeding 25% within a year. In India, where oil and gas upstream methane intensities are double the global average, such measures could be transformative. 'The financial logic is clear, yet awareness and investment barriers persist,' analysts say. Methane abatement could also strengthen energy security. The IEA estimates that capturing methane could have added 100 billion cubic metres (bcm) of natural gas to global markets in 2024—matching Norway's total gas exports. Additionally, 150 bcm of gas is flared annually, much of it unnecessarily. 'This is gas that could power industries or heat homes,' Birol said. In India, where energy demand is rising, capturing flared gas could support economic growth while reducing emissions. India, a major methane emitter in South and Southeast Asia, contributed significantly to the region's 10 Mt of fossil fuel methane emissions in 2024, with half from coal mines. The country plans to double coal output by 2030, potentially exacerbating emissions. Unlike most regional peers, India has not joined the Global Methane Pledge, though its national oil company, ONGC, participates in the Oil and Gas Decarbonization Charter (OGDC). 'India's coal reliance poses a challenge, but its oil and gas sector has abatement potential,' Indian experts say. Surface mines, dominant in India, limit coal abatement options, but LDAR and gas utilisation could cut oil and gas emissions significantly. Sabina Assan, methane analyst at global energy think tank Ember, said 'Coal, one of the biggest methane culprits, is still being ignored. There are cost-effective technologies available today, so this is a low-hanging fruit of tackling methane. We can't let coal mines off the hook any longer.' Globally, methane pledges, including the Global Methane Pledge (GMP) and OGDC, cover 80% of oil and gas production, but only 5% meets near-zero emissions standards. The GMP, with 159 countries, aims for a 30% methane cut by 2030—equivalent to eliminating the transport sector's CO2 emissions. Yet, only half of these pledges have detailed policies. Regionally, performance varies. China, the largest emitter at 25 Mt, focuses on coal mine methane recovery. North America emitted 23 Mt, with Canada targeting a 75% reduction by 2030. In the Middle East and North Africa, flaring drives 25% of 20 Mt emitted. The IEA's Methane Abatement Model highlights pathways to cut oil and gas emissions by 75% and coal by 50% by 2030. "The tools exist, the data is improving, and the economics make sense,' Birol urged.
The Sun
26-04-2025
- Politics
- The Sun
Trump scraps US office on climate diplomacy
WASHINGTON: President Donald Trump's administration has abolished the office that runs US climate diplomacy, potentially meaning the world's largest economy will be a no-show at November's COP30 summit in Brazil. The State Department confirmed Friday that its Office of Global Change, which was in charge of representing the United States in UN climate diplomacy, was being closed. 'We will not participate in international agreements and initiatives that do not reflect our country's values,' a State Department spokesperson said. 'Consequently, this office -- which supported the efforts of previous administrations to hobble the United States through participation in the UN Framework Convention on Climate Change (UNFCCC) and other agreements purporting to limit or prevent climate change -- is unnecessary.' The move was not a surprise as Trump is a climate skeptic and moved to pull the United States for the second time out of the landmark Paris climate accord immediately on returning to office on January 20. The climate office was among notable absences when Secretary of State Marco Rubio on Tuesday laid out a reorganization of the State Department that is expected to include job cuts. But a complete US absence at the November summit in the Amazonian city of Belem would be a major shift in global climate diplomacy. The United States participated in climate talks under the skeptic George W. Bush -- often with a goal of watering down agreements -- and fossil fuel producers such as Saudi Arabia remain part of the process despite frequent disagreements. Even if the United States ultimately sends some representative to the climate talks, it will mark a sharp shift in the profile of the position in just four years. Former president Joe Biden elevated the climate envoy position to cabinet status and tapped for the role John Kerry, the former secretary of state, senator and presidential candidate. Kerry worked closely with China, the world's largest emitter, during the 2023 COP28 conference in Dubai to reach a first-ever call for the world to move away from fossil fuels responsible for much of the world's warming. The planet has already heated up at least 1.36 degrees Celsius above pre-industrial times, according to the EU's climate monitor Copernicus. Scientists warn that 1.5C warming is enough for major damage to the planet, including rising disasters and the disappearance of most of coral reefs.
