Zambia urged to set Carbon Price
Climate Change Expert Abel Musumali has called on the government to establish a carbon pricing mechanism to help Zambia meet its climate finance goals and international commitments. Dr. Musumali said the country needs to introduce a standard price for carbon , arguing that the current unregulated approach leaves Zambia vulnerable to exploitation. “There must be a standard in terms of how much a ton of carbon is sold for. If Zambia sells a ton of carbon at 20 to 30 dollars, we set a benchmark,” he said. “If we leave it open, someone may buy a ton at five dollars and resell it on the international market at 80 to 100 dollars.” He further proposed that government introduce taxes on plastics and other environmentally harmful products as part of resource mobilization for climate financing . Dr. Musumali said such taxes would compel larger companies and industries to contribute meaningfully to national climate financing efforts. He also stressed the need for greater private sector involve...