The Regulations provide a legal framework for the control and management of carbon trading projects. It sets legal measures necessary for ensuring sustainable environmental development by enhancing environmental conversation and Tanzania’s contribution towards global efforts on greenhouse gas emissions reduction. To that end, the Regulations make provisions for:
The administration and institutional framework (Part IV): This defines the roles and responsibilities of authorities like the Minister, Designated National Authority, and local government necessary to implement the carbon trading provisions set out in the Regulations.
The requirements for carbon trading (Part V): This part specifies qualifications for proponents or partners seeking to operate carbon trading projects, project registration, and environmental and social impact assessments, including REDD+ safeguard standards assessments.
The control and management of carbon trading (Part VI): This provides for the steps that a proponent and a partner seeking to establish and operate carbon trading projects must undergo.
The verification and certification of the project (Part VII): Outlines that the verification and certification of carbon trading projects should be in accordance with the accepted international carbon trading standards.
The costs and benefit sharing and the capacity building (Part VII): Details how costs and benefits from carbon trading projects are to be distributed among proponents, managing authorities, regulatory authorities and local communities. It also makes provisions that the proponent of the carbon trading project is responsible to fulfil corporate social responsibility in the area of operation.
