Zimbabwe has introduced a blockchain-enabled registry that allows authorized project developers to trade the nation’s carbon credits.

This initiative seeks to improve the transparency of emissions offset trades and restore investor trust after the southern African country disrupted the global carbon credit market in 2023. The disruption occurred when Zimbabwe abruptly canceled projects, claimed a significant portion of revenues, and mandated developers to re-register. This move affected many project developers, including those involved in the Kariba Redd+ Project.

Eventually, authorities withdrew those requirements.

Additionally, the country has established the Zimbabwe Carbon Markets Authority to oversee and approve the registration of carbon credit initiatives within its jurisdiction.

The integration of blockchain technology into the carbon registry represents a significant leap forward for transparency, security, and trust between traders and the government, according to Environment Minister Evelyn Ndlovu.

The Zimbabwean government has collaborated with Dubai-based A6 Labs to develop this carbon registry, which it claims is the first blockchain-enabled system globally. Access is available at zicma.org.zw.

“All transactions within the registry will be fully traceable, providing an immutable record of carbon credit issuance, trading, and retirement,” Ndlovu stated during the launch event in Harare on Friday. This technology “ensures the integrity of our carbon market and gives the global community confidence that the credits we trade are authentic, measurable, and impactful.”

Zimbabwe stands alongside several other African nations, including Kenya and Zambia, that are working to regulate the sector and enhance control. In 2023, according to RippleNami, a California-based data company, Zimbabwe was ranked as the third-largest producer of carbon credits in Africa, producing about one-eighth of the continent’s total output.

A single carbon credit represents the removal of one ton of climate-warming carbon dioxide or its equivalent from the atmosphere, or the prevention of such emissions. Organizations or nations acquire these credits to offset their own greenhouse gas emissions.

“Developers wishing to participate must apply through the system, and if they fulfill the criteria, they can proceed,” said Washington Zhakata, the acting permanent secretary at the environment ministry. “If they do not meet the criteria, they will not advance.”

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