Carbon trading project in Tanzania

We are a company based in South Africa with carbon trading projects all over Africa. We have recently taken interest in the Tanzania carbon trading market after hearing about its great potential. What are the requirements for an investor to start a carbon trading project in Tanzania?
RD, South Africa

The legal framework for carbon trading in Tanzania consists of various laws, regulations and policies aimed at protecting the environment. The main legislation is the Environment Management Act and the Environmental Management (Control and Management of Carbon Trading) Regulations, 2022 (GN. 636 of 2022) (Regulations). The Regulations apply to all types of carbon trading projects in Mainland Tanzania. According to Regulation 24, to establish a carbon trading project in Tanzania, the project must be registered by the designated national authority which is the Ministry of Environment under the Vice President’s office. However, the Minister has delegated these powers to the National Carbon Monitoring Centre.

The next step is to obtain a project approval where the Authority will rigorously assess the project. For a project to be registered as a carbon trading project it must have the following elements: (a) be in line with national policies, laws and strategies; (b) indicate how the project shall contribute to the Nationally Determined Contributions; (c) adhere to national priority carbon trading sectors; (d) obtained a letter of consent and participation of partners engaged in the project; (e) clearance of ownership of the property involved in the project; (f) involvement of local communities in the project implementation; (g) adhere to transparency and fairness in business; (h) adhere to national investment priorities, ecological, social, cultural and  economic safeguards; (i) disclose relevant project information including costs incurred, verified emission reductions and estimated revenues; (j) indicate expected employment creation to the national experts and local communities; and (k) indicate commitment to corporate social responsibility.  We advise that you seek further legal consultation to guide you in the investment process.