Lawmakers in Malawi are demanding answers over an unaccounted $100 million upfront payment linked to a major carbon credit agreement. Officials from the Ministry of Natural Resources and Climate Change appeared before the Parliamentary Committee on Natural Resources, Energy and Climate Change on Wednesday, where they failed to explain how the funds were managed, according to Malawi24. The missing money is reportedly tied to a $500 million agreement involving a company called Mamaland and the management of 14 forest reserves.
Principal Environmental Officer Jarvis Mwenechanya told the committee that the country currently has 10 active carbon credit projects, with 57 others under review, Malawi24 reports. While Mwenechanya noted that the government has issued several authorizations to facilitate participation under a new carbon trading regulatory framework, committee chairperson Tiaone Hendry demanded clear figures on total revenues. She specifically questioned who benefited from the $100 million transaction made last year.
In weather news, the Department of Climate Change and Meteorological Services issued a forecast predicting occasionally windy and cool to cold conditions across most of Malawi for June 10 and June 11. The department reported a chance of isolated rain showers during the morning hours, mainly affecting the northern districts and the Lake Malawi lakeshore areas.