Rédaction Africa Links 24 with Chief Editor
Published on 2024-03-13 21:56:11
ABSA Bank has joined forces with the Forestry Department in the Ministry of Green Economy and Environment and the Zambia Forestry and Forest Industries Corporation (ZAFFICO) PLC to promote tree planting and combat the effects of climate change in Zambia.
At a media event to announce the partnership between ABSA Bank, ZAFFICO, and the Forestry Department, Minister of Green Economy and Environment Hon. Eng. Collins Nzovu MP expressed his delight at the collaboration. He commended ABSA Bank for providing seedlings to promote tree planting in the country and acknowledged the commitment of all parties involved in addressing the impacts of climate change in Zambia.
The Minister highlighted the importance of aligning business strategies with climate mitigation efforts, citing the Sustainable Development Goals (SDGs), the Paris Climate Agreement, National Development Plans, and regional legislative frameworks. He also praised ZAFFICO’s objective of establishing industrial exotic forest plantations to meet demand and maximize returns on investment.
ZAFFICO Managing Director, Mr. Mundia Mundia, emphasized the corporation’s plans to expand its plantations by 50,000 hectares in the next five years. To achieve this goal, ZAFFICO is investing USD50 million in forest expansion and value-added activities to mitigate the effects of climate change in the country. In the 2023/24 planting season alone, ZAFFICO planted 5.9 million seedlings, covering 2,816 hectares in its plantations.
To encourage tree planting by individuals, communities, and organizations, ZAFFICO provided 175,000 pine and eucalyptus seedlings. ABSA Managing Director, Ms. Mizinga Melu, announced a 3-year partnership to purchase seedlings from ZAFFICO and the Forestry Department. This initiative aims to accelerate tree planting efforts, with ABSA purchasing 62,500 seedlings from ZAFFICO and 30,000 seedlings from the Forestry Department for the current rainy season.
Ms. Melu emphasized ABSA’s commitment to the project and highlighted the bank’s previous partnerships with the World Wide Fund for Nature (WWF) and the Catholic Relief Services (CRS) in environmental restoration efforts in Chongwe and Mumbwa. She stressed the importance of reforestation in combating climate change and encouraged all Zambians to participate in tree planting initiatives.
Overall, the collaborative efforts between ABSA Bank, ZAFFICO, and the Forestry Department signify a crucial step towards promoting sustainable practices and combating climate change in Zambia. The commitment of these organizations to tree planting and environmental conservation is commendable and sets a positive example for other businesses and communities to follow.
Read the original article on Lusaka Times
