Gold Standard pauses issuance of CO2 credits from Zimbabwe

The measure may serve as a warning shot to other African countries, such as Malawi and Zambia, that have since the Zimbabwean decision was announced indicated that they may follow suit, further roiling the US$2bil (RM9.3bil) carbon credits market. — Bloomberg

GENEVA: Gold Standard, a verifier of carbon offsets, is temporarily pausing the issuance of credits from projects based in Zimbabwe, after the country’s announcement earlier this year that it plans to take half the revenue generated from such transactions.

The decision takes effect immediately, a spokesperson for Gold Standard said by email.