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Zambia has entered into an agreement with Sweden to initiate bilateral negotiations aimed at fostering international cooperation for carbon credit transactions under Article 6 of the Paris Agreement.
The agreement was signed by Ministry of Green Economy and Environment Permanent Secretary, Dr. Duty Chibamba, on behalf of Zambia, while Sweden was represented by officials from the Swedish Energy Agency and the Swedish Ambassador to Zambia, Johan Hallenborg.
The signing ceremony took place in Lusaka on Tuesday.
“This important milestone is supported by the SPAR6C programme, which has been instrumental in providing technical assistance and capacity building to enhance Zambia’s preparedness for Article 6 cooperation,” Chibamba stated.
The Paris Agreement, signed by 197 countries in 2015, aimed to combat climate change by limiting global warming to well below 2 degrees Celsius above pre-industrial levels.
Chibamba said that Article 6 was crucial for fostering global carbon market mechanisms that enabled countries to reduce greenhouse gas emissions while promoting sustainable development.
“Zambia’s government recognizes the need for investments in the energy sector. Sweden is already supporting Zambia and other African countries through initiatives like the Beyond the Grid Fund for Africa and the rehabilitation of the Kariba Dam,” Chibamba added.
He further noted that more investments could be realised through climate cooperation under the Paris Agreement, which would also strengthen relations between Zambia and Sweden.
Ambassador Hallenborg highlighted that the Swedish Energy Agency, one of Sweden’s key expert government agencies on energy-related topics, was mandated to implement climate cooperation under Article 6 of the Paris Agreement.
“Through this cooperation, Sweden can focus on Zambia’s specific needs in relation to the energy sector and climate targets,” he said.
Caroline Asserup, Deputy Director-General of the Swedish Energy Agency, expressed satisfaction with the formalization of the collaboration, stating that international cooperation is vital to addressing global climate change challenges.
Under the agreement, Zambia and Sweden will formulate an implementation agreement to establish a bilateral framework for identifying mitigation opportunities and the possible transfer of carbon credits with corresponding adjustments, in line with Article 6 of the Paris Agreement.
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