Isramart : Zambia to have carbon credit exchange by JuneZAMBIA is expected to have a third trading platform (carbon credit exchange) this June that wi

Isramart news:
ZAMBIA is expected to have a third trading platform (carbon credit exchange) this June that will aim at facilitating funds for development of projects seeking to protect the environment and mitigating climate change.

It is expected that the African Carbon Credit Exchange (ACCE) would be located in Lusaka but with broking offices across the continent that would facilitate the carbon trading platform.
Though, similar in nature to the Lusaka Stock Exchange (LuSE) which trades in shares and bonds, ACCE would be trading in units of reduced but captured carbon emissions and harmful greenhouse gases and these units would be referred to as carbon credits.

Confirming the development yesterday, ACCE chairperson and Lloyds Financials chief executive officer Lloyd Chingambo said the carbon credit-trading platform would be a vehicle for generating of economic growth and development.
He explained that ACCE had been structured differently and it would be more than a market like other trading exchanges since it would offer unique products and services.

“It will provide access to finance and access to knowledge and the trading platform will be transparent and regulated on which buyers and sellers of credible compliance and voluntary carbon credits generated in Africa will be matched while the low carbon Africa fund will provide innovative financial solutions to unlock various projects relating to cleaner technologies,” said Prof Chingambo. “The outlook for this project is positive since several companies are willing to use this facility. So far we have received funding and technical support from the USAID profit project and together with partners from the UK and South Africa, we shall be launching operations by June 2010.”

The ACCE would be Zambia’s third trading platform after the LuSE and the Zambia Agriculture Commodity Exchange (ZAMACE).
And ACCE acting chief executive officer Sabera Khan said institutions would be given an opportunity to make additional income through trading in carbon credits.

“For instance, in steel manufacturing a company can have two options whether to invest in new technology and reduce emissions that can be captured and sold as carbon credits or continue being emitters with old technology, actually what is captured when emissions are reduced is what will be traded at ACCE and this will help companies to make additional incomes,” explained Khan.