At a courtesy meeting in Maputo between Vice Minister of Economics and Finance, Carla Louveira and the Team of the Carbon Markets Initiative in Africa (ACMI), Carla Louveira collected good practices for the regulation of the carbon market in the country.
The leader praised ACMI's support especially in the transmission of knowledge on this branch and emphasized the importance of carbon credits and the Government's commitment to developing a low carbon economy and increasing resilience.
Considering the annual technical potential of carbon credits that Mozambique can generate, estimated between 80-90 million carbon credits, about 4% of Africa's total potential, the country can raise between 200-500 million dollars per year if it produces between ~10-25 million carbon credits. So far, Mozambique has issued about 2 million carbon credits in sectors such as improved energy, water and stoves, and is still far from exploiting the existing potential.
In turn, ACMI’s representative in the mission visiting Mozambique, Oliver Granville, highlighted the country’s good performance towards the activation of the carbon market, positioning himself in the front line in a universe of 20 countries that started engagement with ACMI.
A multi-sectoral Task Force was set up at the meeting to explore, in its entirety, the annual technical potential of carbon credits, composed of the Ministry of Economics and Finance, the Ministry of Earth and Environment, the Ministry of Agriculture and Rural Development, the Ministry of the Sea, the Interior Waters and Fisheries, the Ministry of Mineral Resources and Energy, the Ministry of Public Works, Housing and Water Resources, the Ministry of Transport and Communications, and the Ministry of Industry and Trade.
Mozambique joined the Carbon Markets Initiative in Africa (ACMI), which supports African countries in the design and operationalisation of the Carbon Market Activation Plan for the growth of the carbon market on the continent.
In addition to working meetings with the Task Force and Cooperation Partners, during the mission the process of drafting the Carbon Market Activation Plan in Mozambique was launched, which took place on August 10th and was attended by several institutions of the Government, Private Sector, NGOs and Cooperation Partners.
