CARBON MARKET EXCHANGE SECURES CARBON RIGHTS TO ESTABLISH CARBON PROJECTS ACROSS TANZANIA
Formal Agreement to be Signed by Tanzania President shortly Includes Carbon Rights to More Than 100 million acres
Lansing, MI, September 6, 2022 – Carbon Market Exchange Ltd., a world leader in uniting climate action and the financial industry to make international climate targets more accessible, announced today it secured the exclusive rights to establish an agroforestry carbon projects in Tanzania. The agreement with the Cashewnut Board of Tanzania (CBT) was for the sale of carbon rights to 1,060,000 hectares of agroforestry, or 2,619,317 acres—an area larger than Yellowstone National Park or Puerto Rico. A formal signing of the agreement with Tanzania will take place in the next two months in front of Mount Kilimanjaro.
“We couldn’t be more thrilled to be working with the country of Tanzania on this monumental project to incorporate agroforestry into more than 2.6 million acres of cashew plantation in the regions of Mtwara, Lindi, Ruvuma, Tanga, and Coastal Region of Tanzania,” said Carbon Market Exchange Chief Executive Officer Shenna Fortner. “We’ll be incorporating 15 million avocado trees, 15 million coffee trees, and an additional 25 million cashew trees.”
On April 13, 2022, the heads of the World Bank Group, International Monetary Fund, United Nations World Food Programme, and World Trade Organization released a joint statement calling on the international community to act urgently to address food insecurity, keep trade open, and support vulnerable countries by providing financing to meet their most urgent needs. This initiative addresses all these concerns, as well as delivers on the benefits of agroforestry.
“We are honored to be working with Carbon Market Exchange on this initiative and feel it’s for a wonderful cause that will benefit the country of Tanzania in so many ways,” said Brig. General Mstaafu Aloyce Damian Mwanjile. “By introducing agroforestry to more than half of Tanzania, throughout the hectares we own, we can increase the country’s biodiversity, resilience, soil health, productivity, and diversified income.”
About Carbon Market Exchange
As the definitive market leader in nature-based offset credits, Carbon Market Exchange Ltd is dedicated to uniting the financial industry and climate action in a way that makes meeting international climate targets more accessible for companies—and more supportive for conservationists. Established in 2021 by an elite group of environmentalists and finance executives, the company now has operations in both the United States and Belize. In Q1 of 2022, Carbon Market Exchange launched its nature-based, carbon-backed crypto token XCO2, which can be accessed via Ethereum. The company’s goal is to ensure 30 percent of the planet is conserved by 2023. For more information, visit https://www.carbonmarketexchange.com
About Cashewnut Board of Tanzania
The Cashewnut Board of Tanzania (CBT) is a corporate body established by the Act No. 18 of 2009. It is entrusted with the responsibility of regulating the development of the Cashew Industry in Tanzania in undertaking its mandated roles. The Cashewnut Board puts more emphasis in improving efficiency and effectiveness in the cashewnut sub-sector in order to meet requirements of different stakeholders, thereby enabling them to contribute to the national development. For more information, visit https://www.cashew.go.tz/
Diverse portfolio includes high-quality sites in Indonesia, Tanzania, Suriname and Belizeread more
Company builds on valuable conservation assets around the world.read more