Zambia is reportedly planning to sell a green bond and will channel 30% of raised revenue to biodiversity initiatives. In an announcement by Zambia’s Minister of Green Economy and Environment Collins Nzovu stated that it also intends to develop guidelines to regulate the production of carbon credits domestically. Under the Article 6 Guidelines, Zambia has apparently established eligibility criteria and the approval process for carbon projects, to provide a roadmap for the nation’s participation in the international carbon market. In addition to these interim measures, the Ministry is developing a Climate Change Bill, which is apparently at an advanced stage. The Bill will, amongst other things, regulate the establishment of a climate change fund and carbon market and trading in Zambia.
