KEY POINTS
- Carbon credits from Netzence promote sustainability and MESL gets to hear about it too.
- Nigeria’s carbon registry boosted by partnership to achieve emission reduction goals.
- This places MESL at the forefront of Nigeria’s low carbon economy.
Nigeria made a giant stride towards establishing a thorough carbon registry after Mainstream Energy Solutions Limited (MESL) received carbon credits from Netzence Sustainability Limited (Netzence).
This moves Nigeria up the value chain in the global sustainability space and also underscores Nigeria’s commitment to reducing greenhouse gas (GHG) emissions.
The development was a milestone development for Nigeria’s climate action goals, said Dr. Sadiq Sani, Founder and CEO of Netzence. Carbon credits are ‘monetisable in real time,’ he said, and key to delivering the United Nations Sustainable Development Goals (SDGs).
Dr. Sani said carbon credits are “a key component” of policies that aim to curb global greenhouse gas emissions. ‘One metric ton of CO2 emissions have been avoided for every credit. These credit get MESL better sustainability credentials but also support MESL in playing a role in driving a low carbon economy for Nigeria.”
MESL becomes frontline in Nigeria’s green economy transformation, further designating the company as a leading figure on the road to climate resilience and eventual sustainable development for the country. The issuance of carbon credits serves as a way for MESL to monetize its sustainability steps when fueling the transition to a low carbon economy.
Nigeria’s carbon registry and sustainable development
MESL and Netzence partnership embodies a national strategy to build a carbon registry system in Nigeria. This system will allow for the monitoring of emissions, enabling of carbon trading and will attract investments in sustainable technologies.
Dr. Sani says Nigeria’s carbon registry is important to facilitate the monitoring of carbon emissions across sectors, transparency, and carbon trading schemes, if set in motion. Currently, the idea is to make Nigeria an environment where climate finance initiatives can flourish, opening doors for a lot of investment in Nigeria’s economy.
By partnering with Netzence, MESL can tap into new best practices which will help drive operational efficiency and be in alignment with global sustainability standards. The beauty about this partnership is that it would stir up other Nigerian companies to come on board with sustainability as the economic benefits become obvious.
‘‘Stated Dr Sani, ‘‘The integration of sustainable practices and technology will breathe new life into the economy of Nigeria; investing in carbon credit systems and sustainable technologies not only brings jobs, but it also sets local industry on fire.”
“We have a chance to revitalize Nigeria’s economy by integrating sustainable practices and technology, which will also create jobs and stimulate local industries,” Dr. Sani said.
Dr. Sani thanked the Chairman of the Board of Directors of MESL, Col. Sani Bello (Rtd), for supporting the partnership with Netzence. The receipt of carbon credits is seen as a positive stride toward sustainable development in Nigeria where the receipt was successful and this support was pivotal to the same.
Nigeria’s capacity for climate smart investments is growing as witnessed from issuing carbon credits to MESL.
Finally, with more Nigerian companies adopting use of carbon credit programmes, the ripple effect to bring Nigeria to the most competitive status on the global arena will become more evident.
