Malawi Establishes Agency to Oversee Trade, Marketing of Carbon Credits
- African countries are seeking to profit from offsets trade
- Zimbabwe decreed that it will get half of all offset revenue
Malawi's President Lazarus Chakwera
Photographer: Michael Nagle/BloombergThis article is for subscribers only.
Malawi has created an agency to oversee its trade and marketing of carbon emission offsets, President Lazarus Chakwera said.
“Using the prevailing global market prices, the potential value of Malawi’s carbon credits is estimated at 19.9 million metric tons of carbon per annum, valued at over $600 million,” Chakwera said at the inauguration of the Carbon Marketing Initiative on Friday.