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Blue Carbon, a UAE-based environmental asset developer has signed a memorandum of understanding (MoU) with Zimbabwe to generate carbon credits from about a fifth of the African country’s 150,000 square-mile landmass.
The MoU may bring $1.5 billion of climate finance into the country, Blue Carbon chairman Sheikh Ahmed Dalmook Al Maktoum said on Friday in Harare, Zimbabwe’s capital.
The deal based on forest protection and rehabilitation is Africa’s latest Blue Carbon endeavour. This partnership is aligned with the goals the treaty stands for, aiming to tackle climate change and limit global warming and harmful emissions.
