A total of 1.8 million hectares in six national parks will be used in the Carbon Market project after the National Parks Authority (TANAPA) and Carbon Tanzania (CT) signed a Memorandum of Understanding (MoU) aimed at implementing a project to bring about the changes to tackle climate change.
The agreement came during the ongoing Climate Change Conference in Dubai, United Arab Emirates, where 160 countries attended the largest carbon summit in East Africa.
National parks designated for the project are Burigi in Chato District, Katavi Plain, Ugalla River, Mkomazi, Gombe Stream and Mahale Mountains.
Carbon Tanzania's CEO Marc Baker said the project will focus on protection, conservation and strengthening of local management, protecting natural ecosystems and vital wildlife resources.
"The project will begin with a feasibility study, where TANAPA and Carbon Tanzania will aim to determine the possible amount of carbon credits that can be generated from each area and develop a robust business model and management plan to ensure the project is financially viable and sustainable and will set a good precedent for further investment in additional national parks across Tanzania.
He said the plan will ensure the conservation of natural resources as they have extensive experience of working with different levels of government from villages to districts and at the national level.
"Carbon Tanzania is the first and only company in Tanzania to develop carbon projects focused on forest conservation and successfully deliver revenue to local communities. in Karatu, Mbulu, Tanganyika, Namtumbo, Tunduru and Kiteto districts through three operational projects."
He explained that Carbon Tanzania will use its global investment network to provide TANAPA with additional revenue, strengthening its capacity to manage the conservation areas it manages.
Marc said the signing was an important step towards a greener and more sustainable future for Tanzania's national parks.
"TANAPA and Carbon Tanzania are committed to fostering mutually beneficial partnerships that will not only protect the country's natural heritage but also contribute significantly to global climate action."
Further project investment will come from Tanzania's Mohammed Enterprises Tanzania Limited (MeTL), an agricultural, industrial and commercial company founded in the 1970s, with a regional presence in 6 countries across East Africa.
Information is facilitated by MESHA and IDRC's East and South Africa Office.