Emissions platform CYNK carries out carbon forwards trade of over 2 mln credits

Africa's first verifiable emissions reduction platform CYNK said on Tuesday it had carried out carbon forwards trade of more than 2 million credits at the Africa Climate Summit in the Kenyan capital.

Kenya-based CYNK did not give more details on who the beneficiaries of the trade were and said in a statement its emissions reduction platform was the first on the continent. "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," Sudhu Arumugam, its chief executive officer, said.