A Chinese company has pledged to create a massive carbon sink in Zambia, covering four million hectares of forest.

This substantial investment will be implemented in stages, beginning with the establishment of a hundred thousand hectares of slash pine plantation.

This recent advancement comes as a result of the Memorandum of Understanding (MoU) signed between the Ministry of Green Economy and Environment and China’s Jiangxi Fenglin Investment and Development Company Limited (JFIDCL). The MoU focuses on strategic cooperation in forestry projects

This was on the side-lines of the Sixth World Green Development Investment and Trade Exposition (6WGDITE).

Part of the commitment involves the rehabilitation of degraded forests and maintenance of forest resources that are especially in danger of being degraded in Zambia.

Ministry of Green Economy and Environment Permanent Secretary Dr. Douty Chibamba signed on behalf of the Zambian government while JFIDCL Chairman Mr. Wang Lianmao signed on behalf of the Chinese firm.

During the signing ceremony, Dr. Chibamba stated that the MoU will support Zambia’s aspiration to transition to a green economy.

“If well implemented, this MoU will contribute to the attainment of the objectives of Zambia’s Eighth National Development Plan (8NDP), the Forestry Act and Policy, the National Policy on Climate Change, the Nationally Determined Contributions (NDCs) to the Paris Agreement, the Green Growth Strategy, and the National Adaptation Plan,” Dr. Chibamba said

Dr. Chibamba has since urged JFIDCL to actively involve the local traditional leadership and the local communities in the areas targeted for the execution of activities under the MoU.

And Mr. Wang Lianmao said the project will target to develop a tradable carbon sink of 23.25 million tons of carbon dioxide equivalent per year upon completion of the project.

He said employment opportunities will be created for 65, 600 farmers

Platinum Media, SEPTEMBER 13, 2023.

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