The President of Ecologistics Integrated Services, Dr. Paul Abolo has emphasized the need for Africa to incorporate carbon-related initiatives into its development plans.
He stressed the importance of implementing carbon-reduction projects and programs across nations, corporations, banks, and asset owners to expedite their progress towards achieving net zero emissions.
In a significant move towards this goal, Ecologistics Integrated Services entered into a Memorandum of Understanding with Zoetic Global and Tesla Carbon Bank. This partnership aims to support the expansion of Africa’s carbon market.
The signing ceremony occurred in the United States and was announced at FESTAC AFRICA 2023, an event that celebrates black people worldwide, highlighting their arts, culture, heritage, and 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.
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”.
