Zimbabwe has received 13 applications for new carbon offset projects, underscoring the country's move towards environmental stability and economic diversification.

The move follows the introduction of stringent regulations on carbon trade, driving interest within the forestry, agriculture, waste, and energy sectors, according to the country's Information Minister, Jenfan Muswere.

Zimbabwe aims to balance investor participation with national interests within the law introduced last August, authorising the state to claim up to 30% of carbon-credit revenue, BNN reports.

This law represents a notable departure from the original proposal of a larger government involvement in these projects. The strategic plan is designed to draw in investment while also guaranteeing that the country reaps the rewards of its natural resources, particularly in light of increasing global interest in sustainable and environmentally friendly initiatives.

In addition, following on from Zimbabwe's initiative, Zambia's Environment Minister Collins Nzovu has urged for a unified stance in Africa on carbon trading to maximise the continent's benefits.

As it stands, Africa has the ability to produce around 30% of the world's carbon credits, yet currently earns less than $10 for each ton sold.

This difference highlights the necessity for focused efforts to utilise the continent's abundant natural resources more efficiently and fairly within the expanding global market, the BNN report adds.

Zimbabwe's move could pave the way for other African nations to follow suit, with the carbon credit trade forecast to reach a potential $1 trillion over the next 15 years.

By embracing innovative green investment tactics and pushing for equitable compensation within the carbon credit market, countries such as Zimbabwe and Zambia are not only tackling climate change but also creating opportunities for sustainable economic development.

This advancement marks a crucial moment for Africa within the global environmental and financial realm, prompting a reassessment of climate finance and investment streams.