The first verifiable emissions reduction platform has been recorded with the sale of carbon futures transactions of more than two million credits.
Nairobi-based CYNK traded the credits that were produced by Tamuwa – Kenya’s largest biomass company. Several nations on the continent are racing to regulate and benefit from the trade in carbon credits from projects in Africa. (Bloomberg)
CYNK is an online platform that offers carbon reduction solutions and was launched by Tamuwa in 2022. The recent success will invariably lead to further interest across mature financial markets on the continent as awareness around carbon trading garners momentum.