{"id":99385,"date":"2024-10-09T11:08:14","date_gmt":"2024-10-09T09:08:14","guid":{"rendered":"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/amateur-carbon-credit-players-could-cost-zim-icaz-ceo-warns"},"modified":"2024-10-09T13:11:01","modified_gmt":"2024-10-09T11:11:01","slug":"amateur-carbon-credit-players-could-cost-zim-icaz-ceo-warns","status":"publish","type":"post","link":"https:\/\/www.africa-press.cc\/zimbabwe\/all-news\/amateur-carbon-credit-players-could-cost-zim-icaz-ceo-warns","title":{"rendered":"Amateur carbon credit players could cost Zim: Icaz CEO warns"},"content":{"rendered":"<p><span style=\"color: #ff6600\"><strong>Africa-Press &#8211; Zimbabwe. <\/strong><\/span>INSTITUTE of Chartered Accountants of Zimbabwe (Icaz) chief executive officer William Mandisodza says the dearth of experienced carbon credit players who are knowledgeable in environment, social and governance (ESG) practices exposes the country to losses.<\/p>\n<p>This comes amid the government losing out from over 21 million carbon credits generated from local projects, which generated over US$142 million to date.<\/p>\n<p>One of the biggest complaints why Zimbabwe is yet to realise any benefits from carbon credits is due to the lack of negotiating favourable terms with carbon project players.<\/p>\n<p>Having competitive players would allow for better terms to be negotiated with carbon credit project owners, leaving the country poised to make some benefits from the credits realised.<\/p>\n<p>In an interview with NewsDay Business at the inaugural ESG &amp; Sustainability Conference held in Nyanga last week, Mandisodza said the carbon credit market\u2019s biggest challenge was inexperienced players.<\/p>\n<p>He added that this lack of players would cause carbon credit price instability.<\/p>\n<p>The conference was held under the theme, Driving Sustainable Integrating ESG Practices in Zimbabwe, and hosted by Institute for Sustainability Africa in partnership with Icaz and the Institute of Directors Zimbabwe.<\/p>\n<p>\u201cAnd the challenge with that is, how do we price that forest, as an example, if we don\u2019t have many players in the industry? There is a risk that as a nation we can be ripped off because there is no competition of investors,\u201d Mandisodza said.<\/p>\n<p>\u201cSo, what we hope ESG as a principle and as a standard will do is it will make people aware of other ways of actually reducing your environmental impact like buying carbon credits and so forth.<\/p>\n<p>\u201cThat awareness might actually increase participants in the climate related assets and the country will benefit by having more players participating.\u201d<\/p>\n<p>He said he believed that if many players participated in the market, it would be easier for price determination as no one player will be monopolising the market.<\/p>\n<p>\u201cAnd when more players are there, pricing is usually better. So, the issue around that market in Zimbabwe is just information,\u201d Mandisodza said.<\/p>\n<p>\u201cWe do not have information and we also don\u2019t have complex capital markets which can bring in such products and we are at the risk of actually getting bad deals because we are not open to many players. So that\u2019s my view with regards to carbon credits and climate-related instruments.\u201d<\/p>\n<p>Training and Advisory Services managing director Webster Sigauke said the misconception around the carbon markets might have had an impact on the carbon markets.<\/p>\n<p>This, he continued, was because it would have left many people unsure of what they would be investing in.<\/p>\n<p>\u201cThe common misconception which is there is what is being sold and others think that we are selling our land, or we are selling our trees,\u201d Sigauke said.<\/p>\n<p>\u201cSo, what is being sold is not the land and what is being sold is not the tree, but rather what is being sold is the carbon dioxide, which has been absorbed.\u201d<\/p>\n<p>Carbon credits are generated each time carbon dioxide is offset.<\/p>\n<p><strong>For More News And Analysis About Zimbabwe Follow Africa-Press<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Africa-Press &#8211; Zimbabwe. INSTITUTE of Chartered Accountants of Zimbabwe (Icaz) chief executive officer William Mandisodza says the dearth of experienced carbon credit players who are knowledgeable in environment, social and governance (ESG) practices exposes the country to losses. This comes amid the government losing out from over 21 million carbon credits generated from local projects, [&hellip;]<\/p>\n","protected":false},"author":84,"featured_media":99384,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3,6],"tags":[19],"class_list":{"0":"post-99385","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-all-news","8":"category-economy","9":"tag-zimbabwe"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v24.1 (Yoast SEO v24.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Amateur carbon credit players could cost Zim: Icaz CEO warns - zimbabwe<\/title>\n<meta name=\"description\" content=\"INSTITUTE of Chartered Accountants of Zimbabwe (Icaz) chief executive officer William Mandisodza says the dearth of expe ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/amateur-carbon-credit-players-could-cost-zim-icaz-ceo-warns\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Amateur carbon credit players could cost Zim: Icaz CEO warns\" \/>\n<meta property=\"og:description\" content=\"INSTITUTE of Chartered Accountants of Zimbabwe (Icaz) chief executive officer William Mandisodza says the dearth of expe ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/amateur-carbon-credit-players-could-cost-zim-icaz-ceo-warns\" \/>\n<meta property=\"og:site_name\" content=\"zimbabwe\" \/>\n<meta property=\"article:published_time\" content=\"2024-10-09T09:08:14+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-10-09T11:11:01+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/zimbabwe\/sites\/14\/2024\/10\/sm_1728459622.004257.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1728\" \/>\n\t<meta property=\"og:image:height\" content=\"1079\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/amateur-carbon-credit-players-could-cost-zim-icaz-ceo-warns\",\"url\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/amateur-carbon-credit-players-could-cost-zim-icaz-ceo-warns\",\"name\":\"Amateur carbon credit players could cost Zim: Icaz CEO warns - 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