Tanzania is intensifying efforts to capture a larger share of the global carbon market, aiming to transition from passive participation to leadership.

The National Carbon Monitoring Centre (NCMC) plays a key role in strengthening oversight systems, attracting environmentally-focused investment, and ensuring Tanzania maximizes returns from its natural assets.

With the global carbon market generating around $107 billion annually, Africa is positioned to benefit significantly, with projections indicating potential earnings of up to $6 billion by 2030.

Tanzania's rich environmental resources—such as forests, wetlands, coastal areas, and marine ecosystems—provide a strong foundation for this initiative.The country has already registered 99 carbon projects and issued over 13.4 million credits, but challenges remain in translating these figures into economic benefits.

Dr Richard Muyungi, Permanent Secretary in the Vice-President’s Office, emphasized the need for credible systems to support high-integrity projects and ensure equitable benefit distribution to local communities.

The NCMC's priorities include strengthening project registration, accelerating Article 6 mechanisms under the Paris Agreement, and improving measurement, reporting, and verification processes.

These efforts align with Tanzania’s National Development Vision 2050, aiming to diversify government revenue, attract green investment, and promote sustainable growth.