Tanzania Wildlife Management Authority (TAWA) and GreenCop Development PTE, Ltd., a Singapore-registered company, join forces in a groundbreaking Memorandum of Understanding (MOU). This collaborative effort aims to develop a carbon-offset project that will not only secure the financial viability of the Selous, Msanjesi, and Kilombero game reserves but also address climate change and generate substantial benefits for local communities.
Generating Revenue, Jobs, and Environmental Solutions
The MOU represents a shared vision to protect nature, combat climate change, and leverage the international voluntary carbon market to create financial and economic advantages. Under the project, covering 2.4 million hectares in Southern Tanzania, measures will be implemented to mitigate greenhouse gas emissions and sequester carbon from the atmosphere within the renowned Selous, Msanjeni, and Kilombero game reserves.
Central to the project’s success is its responsiveness to the needs and concerns of the local communities. Members of these communities will actively participate in the project’s design and implementation. Moreover, in adherence to Tanzanian laws, regulations, and guidelines, these communities will directly benefit from the revenue generated through the sale of carbon credits.
Economic and Social Impact
Beyond conservation and climate benefits, the carbon-offset project is poised to stimulate the local economy by creating numerous employment opportunities. This development will not only provide green jobs but also allocate funds for educational and health initiatives, as well as the development of renewable energy sources. By promoting various socioeconomic programs, the project will enhance the overall well-being of the local population.
The voluntary carbon offset project plays a crucial role in fulfilling Tanzania’s international commitments under the Paris Agreement, particularly its Nationally Determined Contributions (NDC). Additionally, it supports the High Ambition Coalition’s 30×30 target, which aims to protect 30% of land and sea areas by 2030.
GreenCop Development, along with its long-standing experience in conserving the Selous game reserve, will work closely with TAWA to ensure the project’s success. To facilitate effective project design, financing, and development, GreenCop Development has enlisted the expertise of Posaidon Capital AG, a renowned global advisory firm specializing in green finance. Additionally, local advisory services will be provided by Tanzania Victory Attorneys and Consultants.
Government Support
The MOU signing ceremony, held on May 18, 2023, was attended by high-ranking government officials, including Dr. Hassan Abbas, the Permanent Secretary in the Ministry of Natural Resources and Tourism, who represented Minister Mr. Mohamed Mchengerwa. In his speech, Mr. Mchengerwa expressed Tanzania’s eagerness to capitalize on emerging carbon markets, highlighting that approximately 32.5% of the country’s land area, with its diverse wildlife, forests, and wetland resources, has the potential for carbon sequestration and reducing carbon emissions.
With the partnership between TAWA and GreenCop Development, Tanzania is well-positioned to unlock the immense potential of the carbon market while simultaneously safeguarding its rich biodiversity and combating climate change. This carbon-offset project not only offers hope for the long-term financial sustainability of key reserves but also serves as a testament to Tanzania’s commitment to nature conservation and sustainable
