FSD Africa, a UK Government financial sector programme, is making an initial investment of £650,000 in a digital solution that will increase access to carbon markets by connecting carbon credits from small-scale green projects across the global south to international buyers.
The investment will deliver funding through the test phase of the solution being developed by Nick Hughes, who led the development of the African mobile money service M-PESA.
Hughes is co-founder and managing director of 4R Digital, a green fintech start-up developing financial solutions for a range of business partners committed to climate positive projects in Africa spanning distributed solar energy, electric mobility and nature-based schemes. The company is building a solution that connects these projects to investors looking to offset greenhouse gas emissions (GHG) at the same time as supporting locally-led climate action.
Read more: ESI Africa