The Nigerian Communications Satellite Ltd. has launched a carbon credit initiative in a move to reduce greenhouse gas emissions and mitigate the effects of climate change.
The programme, which focuses on sustainable farming practices, allows rural farmers to earn carbon credits for adopting environmentally friendly methods.
NIGCOMSAT said in a statement obtained on Saturday that those credits could then be sold on the global carbon market, providing a new source of income for farmers while promoting a cleaner environment.
By providing connectivity to rural farms, NIGCOMSAT enables farmers to access global carbon markets and benefit from their sustainable practices.
According to the NIGCOMSAT CEO, Jane Egerton-Idehen, carbon credits help reduce carbon dioxide and other greenhouse gases by allowing companies, organisations, or countries to purchase credits representing a reduction or removal of one tonne of CO2 (carbon dioxide) equivalent from the atmosphere.
“Our carbon credit initiative is a crucial step towards addressing climate change in Nigeria. By empowering farmers to adopt sustainable practices, we can significantly reduce carbon emissions and create a more sustainable future.”
However, Egerton-Idehen acknowledged that the concept had sparked debate about its effectiveness.
Despite this, African nations are establishing carbon markets to finance sustainable development, aiming to harness Africa’s natural potential for climate solutions while creating economic opportunities.
The NIGCOMSAT CEO highlighted Carbonex, a startup in NIGCOMSAT’s accelerator programme, which is building a platform to enable carbon credit trading.
“CarbonEx helps farmers adopt environmentally friendly practices, capturing carbon dioxide using special techniques. Farmers can earn carbon credits, which are verified and registered on a registry, then traded in a carbon market,” she explained.