Tanzania eyes bigger share of global carbon market
Tanzania is aiming to become a major player in the global carbon market by strengthening governance and attracting green investment. The government plans to leverage its vast natural resources to boost national revenue and support climate mitigation.
Why it matters
This highlights the growing economic importance of carbon credits for developing nations and their role in global climate strategy.
DAR ES SALAAM: TANZANIA is stepping up efforts to secure a larger share of the rapidly expanding global carbon market, with the National Carbon Monitoring Centre (NCMC) tasked to strengthen governance, attract green investment and maximise benefits from the country’s natural resources.
Permanent Secretary in the Vice-President’s Office (Union and Environment), Dr Richard Muyungi, said the country must transition from being a mere participant to a leading player in the carbon market by building credible systems that support high-integrity carbon projects.
Speaking during the first Board of Directors meeting of the NCMC for the 2026/2027 financial year held in Dar es Salaam yesterday, Dr Muyungi said the growing carbon economy presents a strategic opportunity to boost national revenues while advancing climate change mitigation efforts.
“Our challenge now is not merely to participate in carbon markets, but to lead them,” he emphasised.
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