Ecologistics Services moves into partnership to facilitate Growth of African Carbon Market

The Ecologistics Integrated Services has signed a Memorandum of Understanding with Zoetic Global and Tesla Carbon Bank, a voluntary carbon credit program, to facilitate the growth of Africa’s carbon market.

The signing took place at USA, and was announced at FESTAC AFRICA 2023, a celebration of black people worldwide with themes on their arts, culture, heritage and other various historical and contemporary issues.

The Climate Change segment themed: “Strategic Partnership for Development of Carbon Markets in Africa” was anchored by the environmental giants: Ecologistics, Zoetic and Tesla Carbon Bank.

The Executive Chairman and co-founder, of Zoetic Refrigerants, U.S.A, Ambassador Jerome Ringo said: “Zoetic U.S.A and Tesla Carbon Bank join with Ecologistics in developing the carbon market throughout Africa. Zoetic and Tesla Carbon Bank have established the leading platform to source, verify, register and sell credits.  Zoetic will help generate credits in Africa”, Ringo said.

In a presentation at the session, the President of Ecologistics, Dr. Paul Abolo emphasised the need to integrate carbon dimensions in Africa’s development through carbon-reduction projects and programs for nations, corporations, banks, and asset owners to accelerate their net zero journeys.

Dr. Abolo also noted that “Changing African Psychology of Climate Action” implies transiting from the attitude of ‘asking for aids for adaptation to capacity for empowerment’ aimed at generating revenue from mitigation activities, principally, carbon reduction certificates. This is what the Ecologistics/ Zoetic / Tesla carbon Bank partnership seeks to facilitate”, Dr. Abolo noted.

The segment also had a technical session with participants in the respective sessions spanning African leaders in the public and private sectors.

The theme of the session: “From Aids to Empowerment”, explored three other sub-themes “Changing the African Psychology of Climate Action; Solidification of African Climate Identity; and Creating Competency for the Carbon Market”.

Dominica Nwabufo