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First African Emissions Reduction Credit Platform Unveiled

  • Biomass producer Tamuwa sets up CYNK using blockchain system
  • Platform aims to return more money to emission-cutting firms
South African Power Plants Amid Pollution Clampdown
Photographer: Waldo Swiegers/Bloomberg

Tamuwa, Kenya’s largest biomass company, is starting Africa’s first verifiable emissions reduction platform in a bid to benefit its own projects and those of other companies in the region that cut the production of climate-warming gases.

The platform, to be known as CYNK, will use the Hedera Hashgraph public decentralized ledger to track emission reductions, enabling them to be sold to polluters aiming to offset their own emissions, Tamuwa said in a statement on Wednesday. Hedera says the blockchain technology used is energy-efficient.