Zambia Signs NERPA Agreement with Biocarbon Partners to Enhance Carbon Trading and Forest Conservation

Zambia's government signed a Nested Emission Reduction Agreement (NERPA) Memorandum of Understanding (MoU) with Biocarbon Partners (BCP) to enhance forest protection and the carbon trading sector. The MoU aims to strengthen the partnership between the government and private sector, facilitating increased investment.

The agreement follows the completion of the 56 Chiefdom Emission Reduction Performance Agreements under the Eastern Province Jurisdictional Sustainable Landscape Programme, expected to generate 28.9 million tonnes of carbon credits. Revenue distribution from these credits allocates 55% to communities, 30% to private developers, and 15% to government operations.

The World Bank has committed $30 million for purchasing 3 million carbon credits as part of this initiative. Stakeholders emphasized the importance of collaboration for sustainable development and community benefits in forest conservation efforts.