New developer announces its first REDD+ project in Tanzania

Quantum Commodity Intelligence – Newly-formed project developer Carbon First has inked an agreement with the Ruangwa district in the Lindi region of Tanzania for a REDD+ project, with more deals on the way over the next few months, it said on Monday.

Carbon First was created over the last few months by Nigeria-based and UK-born lawyer Alade Williams and UK-based Iftikhar Khan and will have a focus on African nature-based projects, both co-founders told Quantum.

A deal in Tanzania, the company's first, was formalised last week at a signing ceremony held with district councillors, village leaders and the executives all present.

The REDD+ project will take place on 250,000 hectares of land in Ruangwa, one of six districts in the southern region of Lindi, and will aim to reduce forest loss linked to charcoal production, a major source of deforestation throughout Africa.

At a later stage, the project plans to develop reforestation activities as well.

Next, the developer plans to conduct free, prior and informed consent (FPIC) consultations with residents from 14 villages, it said.

Tanzania finalised its carbon market framework late last year, spurring a wave of investments in the country.

"The parameters and the borders that have been set in Tanzania are absolutely fabulous... it's really focusing on conservation and biodiversity in a really big way," said Williams.

"The president has prioritised a lot of projects to do with communities, like hydropower plants, clean water, electricity in rural areas. And Tanzania have come up with a legal framework which encompasses Article 6.2 of the Paris Agreement.

"You cannot ask for a better partner to go into this flagship project."

Carbon First said it is in "serious" discussions with five other government entities and aims to leverage its connections on the African continent to become a major carbon project developer over the next few years.

It said it is also looking for financial partners to scale its projects.

Deforestation in Tanzania hit a record high of 229,000 hectares in 2023, data from Global Forest Watch showed.