Tanzania is targeting a bigger share of the global carbon market, with the National Carbon Monitoring Centre (NCMC) tasked to strengthen governance, attract green investment and maximize benefits from natural resources.
Permanent Secretary in the Vice President's Office (Union and Environment), Dr Richard Muyungi, said Tanzania must shift from being a participant in carbon markets to becoming a leading player by building credible systems that support high-integrity carbon projects.
Speaking at the first Board of Directors meeting of NCMC for the 2026/2027 financial year in Dar es Salaam yesterday , Dr Muyungi said the expanding carbon economy presents a strategic opportunity to increase national revenues while supporting efforts to address climate change.
“Our challenge now is not merely to participate in carbon markets, but to lead them,” he said.
He said the global carbon market is growing rapidly and is now estimated to be worth more than US$107 billion annually, with Africa projected to generate about US$6 billion annually by 2030 if it fully exploits available opportunities.
Dr Muyungi said Tanzania has strong potential to benefit from the sector due to its extensive forests, wetlands, coastal and marine ecosystems, as well as opportunities in clean energy and climate-smart agriculture.
He revealed that Tanzania has so far registered 99 carbon projects, with more than 13.4 million carbon credits issued, but warned that the country has not yet realised the full economic value of these initiatives.
“These achievements do not reflect the full benefits we expect from the carbon sector. We need to do more to ensure projects move into implementation and begin generating value for the nation and communities,” he said.
He challenged NCMC to strengthen carbon project registration systems, accelerate implementation of Article 6 mechanisms under the Paris Agreement and improve Measurement, Reporting and Verification (MRV) systems to enhance transparency and investor confidence.
Dr Muyungi said the centre should also focus on ensuring fair distribution of benefits from carbon projects, particularly among local communities, while developing local expertise across the carbon value chain.
“Tanzania must build a carbon market system that attracts investment, protects environmental integrity and ensures citizens benefit from the opportunities created,” Dr Muyungi said.
He said effective management of the carbon sector would support the National Development Vision 2050 by increasing government revenues, attracting green investment, strengthening climate resilience and promoting sustainable economic growth.
The PS further directed NCMC management to prioritise completion of key operational systems, including improvements to the Carbon Registry, submission of the Centre’s Strategic Plan and strengthening institutional frameworks.
He also requested a comprehensive report on all registered carbon projects and those that began implementation between January and July 2026, showing their progress, investment levels and expected benefits to the country.
Dr Muyungi urged the Board and Management to uphold professionalism, integrity and accountability, saying strong leadership would be critical in ensuring Tanzania secures meaningful benefits from the rapidly expanding global carbon economy.
NCMC was formally established under amendments to the Environmental Management Act to coordinate carbon monitoring, strengthen carbon market governance and support Tanzania’s participation in global climate finance.
NCMC chairperson of the Board Dr Albina Chuwa pledged to implement all the directives to ensure the goal was achieved.
She also promised to increase awareness on issues related to carbon trade in the country including strengthening governance in the carbon trade.
