Malawi's Parliamentary Committee on Natural Resources, Energy and Climate Change is demanding answers after ministry officials could not explain where a reported $100 million upfront payment from a carbon credit agreement went. The deal, reportedly valued at $500 million, involves Mamaland and the management of 14 forest reserves. Committee chairperson Tiaone Hendry questioned who benefited from the money and whether the country saw any returns from the transaction. Ministry officials told the committee that Malawi currently has 10 active carbon credit projects and 57 more under review. They disclosed that only about $77,000 has been generated so far from a project by Hestian Innovations. Lawmakers expressed frustration that despite the growing number of carbon projects, the country appears to have captured almost no revenue. The committee has given the ministry seven days to submit full details on carbon credit earnings, project agreements, and how funds were used.
