Zimbabwe and the United Arab Emirates (UAE) have agreed to enhance their cooperation in various sectors, especially in tackling the global challenge of climate change. The two countries are preparing for the 28th meeting of the United Nations annual conference on climate change, COP28, which the UAE will host in Dubai from November 30 to December 12.
The UAE Ambassador to Zimbabwe, Dr. Jassim al Qasimi, met with Vice President Dr. Constantino Chiwenga in Harare on Friday to discuss the opportunities for collaboration in areas such as agriculture, transport, and trade. Dr al Qasimi said his country looked forward to working with Zimbabwe on climate change issues, especially during the COP28 summit.
“We are looking for cooperation between the two countries, especially during the summit to be held in Dubai, the Cop28. The meeting will discuss many matters, and Zimbabwe has a role to play,” he said.
Earlier this month, Zimbabwe signed a memorandum of understanding with a UAE-based company, Blue Carbon, to generate carbon credits from projects covering 7.5 million hectares of forest land. The US$1.5 billion deal is expected to bring climate finance into the country and support forest conservation and rehabilitation.
Carbon credits are certificates that represent a reduction or removal of greenhouse gas emissions from the atmosphere. They can be sold or traded to entities wanting to offset emissions or comply with carbon regulations.
Zimbabwe is one of Africa’s largest carbon credit producers and has several projects that aim to protect its forests and wildlife. The country revised its carbon regulations in May to reduce the government’s share in profits from carbon offset projects to 30 percent after initially demanding 50 percent.
The UAE is also a major player in the global carbon market and has invested heavily in renewable energy and low-carbon technologies. The country is hosting the COP28 summit with the goal of uniting the world towards agreement on bold, practical, and ambitious solutions to the climate crisis.
The summit will build on the outcomes of the previous COP27 summit held in Glasgow, Scotland, where countries agreed to limit global warming to 1.5 degrees Celsius above pre-industrial levels and phase out coal and fossil fuel subsidies.
Zimbabwe and the UAE have enjoyed cordial relations for several years and have increased their trade and investment ties. According to data compiled by Bloomberg, the UAE is the largest destination for exports from Zimbabwe.
The two countries also collaborate on other health, education, and tourism initiatives. They hope their cooperation will bring mutual benefits and contribute to sustainable development and peace.
Source: The Herald
