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(L) Jacob Zenz, co-founder of Econetics, and Paul Nimmerfall, founder of Econetics. Econetix recently closed its first CORSIA supply deal, opening the door to multi-million-dollar climate investments across Africa. (Brian Ngugi, Standard)
Global carbon asset manager Econetix has closed its first supply agreement under the Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA), a landmark transaction. climate finance Towards African Project Countries.
Following the launch of Africa's first national carbon registry in Nairobi in February, the deal positions Kenya and other African countries with strong carbon registries to benefit from the aviation compliance market. Environment Cabinet Secretary Deborah Barassa described the system as giving “a digital heartbeat” to Kenya's green economy, enabling transparent tracking and sovereign authorization of credits – which are prerequisites for accessing premium Corsia markets.
Carbon credits are tradable permits that represent one metric ton of carbon dioxide reduced or removed from the atmosphere. Projects generate credits through activities such as reforestation, distributing clean cookstoves to reduce wood fuel demand, or replacing diesel generators with solar mini-grids.
Under CORSIA – the International Civil Aviation Organization's program to limit aviation emissions – airlines must offset emissions increases by purchasing eligible credits. Demand is estimated to be 100-150 million units during the 2024-2026 compliance phase alone, with analysts estimating that 1.6 billion credits will be needed by 2035.
For host countries, CORSIA eligibility requires a “related adjustment” under Article 6 of the Paris Agreement – government authority to ensure that emissions reductions are not double counted at the national level. climate goals. This regulatory layer creates a price premium for high-integrity credit, but demands sophisticated national systems, like Kenya's new registry, that prevent double counting and ensure community value flows.
Paul Nimmerfall, co-founder of Econetix, said, “It's not just about carbon credits – it's about long-term investment, institutional capacity building and predictable revenue streams for governments and local communities.”
Econetix operates in 16 African countries, developing Gold Standard-registered projects including clean energy access and nature-based solutions. The SCB Environmental Markets SA partnership enables these projects to tap into the demand of the aviation sector, injecting millions of dollars into African economies while supporting biodiversity conservation and climate resilience.
The transaction demonstrates that African-origin credits can meet rigorous international compliance standards, establishing the continent as a cornerstone supplier for multibillion-dollar aviation. carbon market.