TZ attracts Asian, European carbon investors

DODOMA: TANZANIA is positioning its vast forest reserves to tap into global carbon markets, with 46 Asian and European investors lining up to partner with the government on climate projects, a senior forestry official said.

Senior Assistant Conservation Commissioner at the Tanzania Forest Services (TFS), Hansen Mashimba said here yesterday that applications from international and joint-venture investors are currently at various stages of processing.

The interest targets forested areas and water sources managed by the agency that have historically absorbed carbon without generating direct financial returns.

"This is an opportunity because it increases funding for conservation, community development and implementation of national climate goals," Mashimba told the `Daily News’ in an exclusive interview.

A total of 46 investors from different parts of the world have shown interest in collaborating with Tanzania Forest Services (TFS) to establish carbon credit projects in forests and water sources managed by the agency.