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Nexum Foundation/HBK DOP and The Climate Group Africa to launch blockchain-based carbon exchange in Africa
Nexum Foundation INC, HBKDOP and The Climate Group Africa have collaborated to launch a new online carbon credits exchange distribution platform
Committed to the vision of data disruption in the oil and shipping industry and blue investments, Nexum Foundation actively supports technological disruptions that leverage innovative data models toward a more sustainable planet.
Driven by this principle Nexum Foundation today agreed to provide its cutting-edge technology platform to power a new carbon credits exchange based on blockchain technology. In partnership with HBKDOP Dubai, UAE, and The Climate Group Africa Limited, Kenya, they will develop an online carbon credits exchange that will act as the exclusive market conduit for the carbon credits awarded to The Climate Group Africa through its activities. Their aim is through this new carbon credits distribution platform to facilitate and promote the tokenisation process of the carbon credit industry.
The three institutions have decided to join forces and united their complementing expertise aiming to promote Africa’s interest and increase its presence in the international carbon credit industry and bring benefits to the local communities. HBKDOP is an establishment dedicated to executing infrastructure projects globally such as energy, agriculture, oil and gas, and financial services with a particular interest in the renewables sector.
Panagiotis Georgolios, founder of Nexum Foundation, stated, “We are excited with this new collaboration. Shipping is considered a major polluter. That might not be a fair characterisation considering that it facilitates more than 80% of the global trade. Irrespectively, the shipping industry will need carbon credits. This initiative allows the foundation a strategic position in the carbon credit industry and supports our mission to promote the tokenisation process of assets and services with tangible economic fundamentals and valuable offerings in the maritime world. We are also very happy that this effort will also support the local communities in Africa and allow them to receive real economic benefits”.
Anwar Hussein, group CEO of HBKDOP, commented, “We have shifted our focus to a variety of projects, including those which actively remove emissions. Ensuring climate action is truly effective and remains a top priority. Climate protection and innovation are among the fundamental building blocks for making our future sustainable. Supporting the carbon future science-based approach with our joint partners, delivering vital element, traceability and transparency, and hence the need for business and governments in working together towards building a sustainable society.”
Michael Shamku, CEO of The Climate Group Africa, concluded, “The experiences of the pandemic are promising a brighter future for climate action and sustainability as the conviction to tackle global issues has strengthened. The pressure to act on climate change has become critical and has further driven commitment from those who have been reluctant to act on sustainability. We support African Governments to benefit from Global Climate Funds (GCF) grants, loans and technical assistance in specific areas such as forestry conservation efforts, improving adaptation and mitigation capacities within Africa.”
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