Summary
- Apart from protecting nature and the environment and addressing the challenge of climate change, the project will also generate financial and economic benefits for the local communities by selling carbon credits on the international voluntary carbon market.
Dar es Salaam. Tanzania yesterday started a journey aimed at reaping financial benefits from the carbon credit business following the signing of the Memorandum of Understanding (MoU) between the government and a foreign investor.
The MoU was entered into by the Tanzania Wildlife Management Authority (Tawa) and a Singapore-registered company, GreenCop Development PTE. Limited.
The signing aims at creating Tanzania’s largest carbon offset project through conservation and restoration of the Selous, Msanjesi and Kilombero Game Reserve ecosystems.