ARUSHA, TANZANIA, May 27, 2023: At the FESTAC Africa 2023, Ecologistics Integrated Services announced the company has signed a Memo of Understanding with Zoetic Global and Tesla Carbon Bank, a voluntary carbon credit program, to facilitate the growth of Africa’s carbon market.
FESTAC AFRICA is 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.
This partnership establishes a cooperative and supportive alliance to support the successful development of Africa’s carbon market. The partnership will work with key corporations in Africa to generate carbon credits and carbon reduction certificates. Such corporations 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.
Addressing the participants, Executive Chairman and co-founder, Zoetic Refrigerants, U.S.A, Amb. Jerome Ringo said: “Zoetic U.S.A and Tesla Carbon Bank joins with Ecologistics in developing the carbon market throughout Africa”. He added, “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 spanning 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, President of Ecologistics, Dr. Paul Abolo 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 also 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. “This is what the Ecologistics/ Zoetic / Tesla Carbon Bank partnership seeks to facilitate”, Dr. Abolo stated.
Partners
Ecologistics Integrated Services Ltd
Ecologistics is a global climate change investment and sustainable development firm engaged in facilitating funding and technology support for national and sub-national entities. Ecologistics provides services that address environment-related social and economic challenges and communicates the sustainable development opportunities in climate change action through awareness, sensitization, participation, workshops, and lectures. Its approach involves identifying the contours of environmental and social challenges and reframing those challenges to opportunities for sustainable development. Ecologistics is the Pan-African Ambassador to Carbon Trade Xchange (CTX) for African Carbon Markets and Pioneer of the Carbon Finance Alliance for Africa (CFAA)
Zoetic Global
Zoetic is a solutions provider focused on delivering critical energy, water, food and healthcare technologies to areas of greatest need. Working in conjunction with its technology and strategic partners it has assembled a compelling portfolio of now solutions for now problems.
Zoetic means, “of or pertaining to life.” It embodies the dedication of its Co-Founder and Chairman, Jerome Ringo, who has been a leader in the climate movement for two decades. Zoetic is focused on the inclusion of areas of the world disproportionately impacted by climate change. Zoetic believes that critical solutions exist; and what is needed is a next level commitment by leaders to implement them.
Tesla Carbon Bank
Tesla Carbon Bank owns a ground-breaking voluntary carbon credit program which provides clients with secure facilities for their carbon credits, some of which are secured by insurance. Tesla’s platform supports various categories of clients, from individuals to families and corporations as they work to become net zero and offset their carbon footprints.
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