The Zimbabwean government has introduced the Development Projects Management Information System (DevProMIS) to monitor climate-related financial activities, as announced by Finance Minister Mthuli Ncube. This new system aims to improve the tracking of expenditures on climate initiatives and will also support the management of the carbon credits market, enhancing the transparency and credibility of these efforts.
Speaking at the country’s largest annual trade exhibition, Minister Ncube highlighted the system’s role in bolstering global climate mitigation efforts. “DevProMIS has been developed to enhance accountability and transparency in climate-related spending within both government and development partner-supported programs, and it will be operational soon,” he stated.
This initiative comes on the heels of last year’s introduction of the Carbon Credits Trading (General) laws, under Statutory Instrument 150 of 2023, which outlines the regulatory framework for carbon credit trading in Zimbabwe. Carbon credits, which are tradable certificates representing a reduction in greenhouse gas emissions, allow companies to offset their emissions.
In parallel, the government is encouraging local manufacturers to innovate in reducing carbon emissions within their production processes. This push aligns with upcoming regulations from the European Commission, such as the Carbon Border Adjustment Mechanism (CBAM), set to take effect in 2026. The CBAM will require that carbon-intensive goods entering the EU are priced to include the cost of carbon emissions incurred during production, aiming to promote cleaner production outside the EU.
Minister Ncube emphasized the importance of this initiative: “Local industries must innovate to reduce emissions to remain competitive globally, especially with the impending CBAM regulations. Starting in 2026, companies exporting to the EU will need to demonstrate their production methods and carbon emissions, facing penalties if these exceed EU thresholds.”
