African Carbon Trade Ambassador Agreement sets targets to activate the African continent’s opportunities under the Paris Agreement.
ABUJA, Nigeria & LONDON & BRISBANE, Australia–(BUSINESS WIRE)–#africa—Carbon Trade Exchange Limited (CTX) and Global Environment Markets (GEM) have signed a pan-African Ambassador Agreement with Ecologistics Integrated Services Limited (Ecologistics).
This Agreement was forged at COP27 in Egypt to meet an overwhelming demand for Africa to engage in supporting the Carbon Markets.
CTX, GEM and Ecologistics will work together to expand GEM’s National Carbon Meta Registries aimed at supporting the development of Carbon Markets, ITMO, Voluntary Markets in Africa, and to produce Carbon Credits to be available for global trading via an electronic interface with CTX.
Leveraging GEM’s “Technology Infrastructure for the Future of our Planet” provides the opportunity for governments, as Paris Agreement signatories, to support their commitments and trade credits under Article 6.
Ecologistics is a leading global climate change investment and sustainable development firm with headquarters in Abuja, Nigeria, The firm is also the convener of the Nigeria Climate Change Investment Forum (NCCIF) and the Africa Climate Change Investment Forum (ACCIF).
GEM licenses registry software solutions and the Trading Exchange Technology for environmental commodity markets. Additionally, it is an approved vendor to the World Bank.
GEM is also a strategic partner of Gold Standard and UNFCCC, and owns all the globally licensed IP and the built-in ‘meta-registry’ technology for Carbon Trade eXchange (CTX) which has housed and transacted up to eight different Credit Standards simultaneously and globally, 24/7/365.
The CEO of GEM, Wayne Sharpe, stated: “We are extremely pleased to be joined by Ecologistics in a pioneering level of engagement for Africa within the Carbon Markets”.
The President and CEO of Ecologistics, Dr. Paul Abolo, added that “this Ambassador Agreement is a huge responsibility for Ecologistics, its partners and affiliates to coordinate all parties-of-interest in ensuring that Africa is adequately represented in the global carbon markets, and this is of crucial importance.”
This strategic Ambassador Agreement between Ecologistics, GEM, and CTX is not only accelerating the economic development within Africa but also curbing GHG emissions.