Ecologistics Partners Zoetic Global, Tesla Carbon Bank to Boost African Carbon Market

Ecologistics Partners Zoetic Global, Tesla Carbon Bank to Boost African Carbon Market

By THECONSCIENCEng 

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

The deal was sealed at the FESTAC Africa 2023 event.

The event was 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.

L- R Ecologistics President Dr. Paul Abolo; Zoetic Chairman and Co-Founder Jerome Ringo; and Vivaris Capital President & CEO J. Christopher Mizer. (PRNewsfoto/Zoetic Global)

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.

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L- R Ecologistics President Dr. Paul Abolo; Zoetic Chairman and Co-Founder Jerome Ringo; and Vivaris Capital President & CEO J. Christopher Mizer. (PRNewsfoto/Zoetic Global)

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”.

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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.