Zimbabwe will turn into blockchain to revive trust among carbon credit investors

Zimbabwe has launched a blockchain-enabled carbon credit registries to increase transparency and restore investor trust after previous turmoil in the carbon credit market. In 2023, the country suddenly cancelled the project, claiming a portion of its revenues and faced a backlash to affect developers such as the Kariba Redd+ Project. The authorities subsequently established the Zimbabwe Carbon Market Bureau to oversee the registration of carbon credit projects. The new registry, developed by Dubai-based A6 Labs, is touted as this kind of global, allowing for fully traceable transactions and ensuring the integrity of the carbon market. Zimbabwe, a key producer of African carbon credits, aims to regulate the industry more effectively as it requires developers to apply and meet certain criteria for participation.