Osborne Clarke advises Trafigura on pioneering Miombo Zambia Agroforestry Project
Published on 9th February 2026
International legal practice Osborne Clarke has advised Trafigura on the financing of the Miombo Zambia Agroforestry Project, a large-scale, community-focused carbon removal initiative.
Working with ETG Climate Solutions, the project will introduce agroforestry systems across degradedlands in Zambia’s Western Province, focusing on the development of the local cashew market.
Trafigura is providing approximately $50 million of prepayment finance alongside ETG Commodities for the project. It is registered with Verra, the leading global standards body for the voluntary carbon market. Trafigura’s prepayment will be repaid through the transfer of Verra-certified carbon units, which can be sold in international markets to corporates seeking high-quality carbon credits.
The matter highlights Osborne Clarke’s capabilities in innovative low-carbon voluntary carbon market project development, alongside its expertise in carbon credit financing and commodity trading.
“This transaction is a strong example of how structured trade finance and carbon markets can be combined to mobilise capital at scale for nature-based solutions. We’re delighted to have supported Trafigura on a project that aims to deliver tangible climate benefits while sharing long-term economic value with tens of thousands of Zambian farmers.”
The cross-practice Osborne Clarke team advising Trafigura was led by Partner Matt Lewy (Corporate), supported by Associate Director Caroline Bush (Construction, Planning & Environment) and Associate Director Bethan Moore (Banking).
