History was made in Victoria Falls Zimbabwe, on July 7, 2023, the final day of the inaugural Africa Voluntary Carbon Credits Forum (AVCCM).
Agreements were signed to initiate and install a Regional (Pan African) Carbon Registry owned and operated in Zimbabwe plus a locally operated, owned and branded version of the worlds first and leading global Voluntary Carbon platform, Carbon Trade Exchange (CTX).
The Victoria Falls Carbon Registry (VFCR) will support the migration of Zimbabwe and other African nations projects and Carbon Credits back to Africa to be re-issued under their control. African Nations wishing to participate will be offered a National Sub-license and Registry Administration role within the VFCR, to support, lodge, monitor and manage projects and credit issuance in their nation.
This low-cost solution negates the need for separate National Registries. Project types, methodologies and registry fees will be at the discretion of the VFCR and they expect support from existing carbon credit standards internationally. The Registry will be operational in August 2023 and will start accepting projects, new or migrating, as soon as staff are trained to do so. Global Environmental Markets Group (GEM) will deliver the technology with training in August.
The Victoria Falls Carbon Exchange (VFCX) will have immediate access via CTX to hundreds of projects worldwide for buyers globally, millions of credits listed across worldwide for T+0 clearance and settlement. Plus new credits issued by VFCR Registry listed on the VFCX /CTX globally) instantly at the price the seller determines from that new registry. VFCX registry account holders can list via VFCX at no costs to list. A 5% fee on Sale of credits, no transfer or Retirement fees.
The AVCCM event attracted a large global audience across the carbon market, plus Government, banking and project developers, supporting Zimbabwean Government’s decision to bring the carbon credits ‘home’ under the UNFCCC Paris Agreement.
“This is the future Africa said it wanted from the Paris agreement in 2015,” said Wayne Sharpe, CEO and Founder, Global Environmental Markets Group. This follows on from COP27 where GEM and CTX did multiple presentations to various African nations.
After speaking at the AVCCM event, Wayne added, “We saw the passion and commitments to Carbon Credits in Zimbabwe and Africa. This is why we built this technology, to deliver financial and ecological benefits to nations on the ground!”
Kwanele Hlabangana, Chairman and Co-Founder of AVCCM, said: “Partnering with experienced world class Carbon Market technology leaders like GEM & CTX is exciting. Responses from projects, communities and governments is outstanding. It’s a great opportunity to accelerate Africa into the Global Climate to save our planet.” Ground up approach plus community engagement combined with GEM’s proven world class Registry and Exchange technology ticks the boxes for a trusted, credible, transparent and vibrant African marketplace