Ecologistics Partners Zoetic Global, Tesla Carbon Bank To Facilitate Growth In Africa

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

The partnership was announced at the FESTAC Africa 2023, a celebration of black people all over the world 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 three environmental giants: Ecologistics, Zoetic and Tesla Carbon Bank.

Dr. Paul Abolo, President of Ecologistics, said the partnership establishes a cooperative and supportive alliance to support the successful development of Africa’s carbon market.

He said the partnership will work with key corporations in Africa to generate carbon credits and carbon reduction certificates. According to him, such corporations will be able to save over 20 to 40 per cent 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.

Ambassador Jerome Ringo, Executive Chairman and co-founder, Zoetic Refrigerants, U.S.A, 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”.

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

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

In his presentation at the session, Dr. 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.

He said that “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.