Davos visit lures investors

need food assistance.

The pledge by the global community to provide more food, combined with the efforts of Government, brings relief to citizens who are battling to feed families. President Mnangagwa has reiterated that no one will starve as adequate measures had been put in place to feed all food insecure households.

Prof Ncube said the WEF discussed the need to focus on climate change and climate proofing countries, especially agriculture.

He said there was need to create instruments that would enable Zimbabwe to cash in on “its vast forests by selling carbon credits in order to finance development”.

“I participated in a session at WEF on this,” said Prof Ncube. “The ministry of Finance and relevant Government departments are looking into this.” A carbon credit is a permit that allows a company that holds it to emit a certain amount of carbon dioxide or other greenhouse gases.

One credit permits the emission of a mass equal to one tonne of carbon dioxide.

The carbon credit is one half of a so-called “cap-and-trade” programme.

Companies that pollute are awarded credits that allow them to continue to pollute up to a certain limit. That limit is reduced periodically. Meanwhile, the company may sell any unneeded credits to another company that needs them.

Private companies are thus doubly incentivised to reduce greenhouse emissions.

WEF also discussed issues pertaining to youth employment and supporting SMEs, which Prof Ncube said will help Zimbabwe and Africa to fully harness the demographic dividend.

Zimbabwe has come up with tax incentives for companies that employ young people through a tax rebate for youth employment launched in the 2020 National Budget.