Zambia's (Reducing Emissions from Deforestation and Forest Degradation) REDD+ project, the Luangwa Community Forests Project was named the Best Individual Offsetting Project in the World in the Voluntary Carbon Market Rankings. The Voluntary Carbon Market Rankings have been dubbed the "Olympics of Carbon Markets."
Africa is frequently overlooked when it comes to climate change, receiving less than 3% of global climate financing. However, Africa is home to 30 of the world's 40 most climate-vulnerable countries. It contributes the least to global warming as a continent, but its impacts on the continent are enormous.
While tourism has crashed in Zambia, REDD+ has continued to contribute cash to local communities, with direct payments of K92 million (US$ 4.8 million) made to communities since the epidemic began. Household income has climbed 171% in the previous five years, and the LCFP has created at least 1,000 jobs, showing how resilient and effective the REDD+ model is for Zambia's local economy!
Dr. Hassan Sachedina, BioCarbon Partners (BCP) Founder and CEO said “We are incredibly humbled by this recognition in the global rankings. The best thing about projects like LCFP is that they embody hope. People are benefitting, wildlife is benefitting and the world is benefitting.”