Attorney-General will sign new contracts with investors African nation is 12th largest creator of carbon offsets: BNEF
Zimbabwe, which roiled the global carbon credits industry by canceling offset programs last week, will now give producers of the securities two months to comply with new rules including handing the state half of their revenue.
Also read: Zimbabwe sells millions of gold-backed cryptocurrency
The rules include a mandatory level of at least 20% of revenue for local investors and a maximum of 30% for foreign investors. They are meant to enhance benefits for the state and the communities that host the projects, Environment Minister Mangaliso Ndlovu told a packed meeting in the capital, Harare, on Monday evening.
Source:
Bloomberg
