CYNK, Africa's first emissions reduction platform has announced a groundbreaking carbon forwards trade of over 2 million credits at the Africa Climate Summit in Nairobi, Kenya.

This trade represents the largest worldwide launch deal of over 2 million tonnes of CO2e.

CYNK is an African based end-to-end platform for the measurement, verification and sale of high-quality verifiable emissions reductions (VERs).

The platform is designed to enable funding for the full life cycle of projects which are answer the call to action on climate change and social impact. 

CYNK has been developed in response to challenges of voluntary carbon markets which have been tainted by misrepresentations around standardisation and misestimations of credits and the need to unlock the financing gap for climate action.

Reports indicate that Africa alone needs approximately $500 billion to stem climate change by 2030 and trillions of dollars to reach the goals set by the Paris agreement.

CYNK CEO, Sudhu Arumugam noted that the platform  enables climate projects from the Global South to interact directly with investors and buyers in the Global North, via a marketplace that is accessible to all.

"This will enable climate projects to become pricemakers rather than price takers, as they have historically been”.

“This trade of over 2 million forward carbon credits shows the trust being rebuilt in the high-quality segment of the voluntary carbon markets after a period of complete loss in confidence in wider markets," he added.

As a leading innovator in climate finance, CYNK offers key technology solutions for the creation of high-quality ESG assets and financial marketplace solutions to accelerate financing for climate action with social impact at the core.