The Memorandum of Understanding (MOU) entered between the Tanzania Wildlife Management Authority (TAWA) and GreenCop Development PTE, Ltd., a Singapore-registered company, will develop the carbon-offset project as they seek to hook a share of the carbon credit billions to bankroll conservation of a territory covering 2.4 million hectares in Southern Tanzania.
The voluntary carbon offset project that promises substantial new green jobs and multi-million-dollar in revenue will implement measures to avoid greenhouse gas emissions and sequester carbon from the atmosphere on the globally renowned ecosystem comprising Selous, Msanjeni, and Kilombero game reserves.
“The partners in this MOU are joined by a shared vision to secure the long-term financial viability of the Selous, Msanjesi, and Kilombero game reserves by protecting nature and addressing climate change, whilst generating financial and economic benefits for local community by selling carbon credits on the international voluntary carbon market,” said TAWA Conservation Commissioner, Mr. Mabula Nyanda, who signed on behalf of the government, while the GreenCop CEO, Mr. Jean-Jacques Coppee, signed for the investors.
High-quality carbon credits are generated through conservation, restoration, and improved management of Tanzania’s forests and other natural resources.
The project’s responsiveness to the needs and concerns of members of local communities, who will participate in its design and implementation, is critical to its success, reads part of the MOU document seen by eTurboNews.
The communities will directly benefit from the distribution of revenues generated by the sale of carbon credits in line with the applicable Tanzanian laws, regulations, and guidelines.
The project is also expected to stimulate the local economy by providing employment opportunities, funding educational and health initiatives, and developing the use of renewable energies as well as other social-economic programs.
This voluntary carbon offset project will contribute to achieving Tanzania’s international commitments under the Paris Agreement (Nationally Determined Contributions, NDC), and under the High Ambition Coalition’s 30×30 target (30% of land and sea protected areas by 2030).
The project also directly conforms to Tanzania’s National Environmental Master Plan for Strategic Interventions 2022-2032.
GreenCop Development aims to become a leader in the voluntary carbon credit market
The main purpose is to accelerate global transition to a de-carbonized economy by developing environmental assets, nature-based solutions, and register carbon removal projects using latest methodologies. It acts as a proponent for developments and funding opportunities promoting conservation of wildlife while generating economic opportunities for the local population.
The Selous Voluntary Carbon Offset Project has a symbolic significance since GreenCop Development’s management has worked to conserve the Selous game reserve alongside TAWA since 2004. GreenCop Development possesses a long-standing knowledge of the Selous and high expertise of wildlife conservation in the Selous and broader Tanzania.
