April 16, 2024

Abolo’s Ecologistics partners Zoetic Global, Tesla Carbon bank, facilitates growth of African Carbon Market

Oredola Adeola

The Ecologistics Integrated Services promoted by Dr. Paul Abolo, has signed a Memo of Understanding (MoU) with Zoetic Global and Tesla Carbon Bank, a voluntary carbon credit program, to facilitate the growth of Africa’s carbon market.

 

The three environmental giants penned the agreement at the 2023 edition of the FESTAC Africa, held in Arusha, Tanzania, an event dedicated to celebrating black people worldwide with themes on their arts, culture, heritage, and other various historical and contemporary issues.

 

EnergyDay gathered that the partnership seeks to establish a cooperative and supportive alliance to fast-track the successful development of Africa’s carbon market.

 

They believed that the partnership would work with key corporations in Africa to generate carbon credits and carbon reduction certificates.

 

It therefore established through the agreement that companies that signed on to the carbon market will be able to save over 20-40 percent on their energy bills, receive carbon credits based on precise monitoring of their systems and operations, and have the capability of measuring their sustainability and carbon mitigation initiatives.

 

Amb. Jerome Ringo Executive Chairman and co-founder, Zoetic Refrigerants, U.S.A, while addressing the participants at the Climate Change segment of FESTAC, themed: “Strategic Partnership for Development of Carbon Markets in Africa,” revealed that Zoetic U.S.A and Tesla Carbon Bank joined with Ecologistics in developing the carbon market throughout Africa.

 

 

According to him, Zoetic and Tesla Carbon Bank have established the leading platform to source, verify, register, and sell credits adding that Zoetic will help generate credits in Africa.

 

Dr. Paul Abolo, Chief Executive Officer(CEO) of Ecologistics, during his presentation at the session, emphasized 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 said, “Changing African Psychology of Climate Action” simply implies transiting from an attitude of ‘asking for aids for adaptation’ to that of ‘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 stated.

 

EnergyDay’s check showed that Ecologistics Integrated Services, a global climate change investment and sustainable development firm. The firm is also the convener of Nigeria Climate Change Investment Forum (NCCIF); Safeguard Specialist Consultant to the World Bank on the Nigeria Green Bond and the Country Expert (Nigeria) for Stantec on the Africa Development Bank’s NDC private sector project in Africa.