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Follow on Google News | Financial Soultions: Another U.S company looking to Africa for profitable carbon credits.Africa offers diverse opportunities for international businesses to scoop up carbon credits for profit.
The startup, which is based in Houston, Texas, is presently supplying solar-powered water purification systems, which utilize sand and ultraviolet light to filter rainwater, at a number of Rwandan secondary schools. In the primary phase, the systems, which cost $50,000 a piece, are subsidized by $1 million in sponsorships from the Coca-Cola Foundation and the Global Water Challenge, a business alliance situated in Washington, Financial Soultions has learned. But the company’s primary aim is to market carbon-reduction credits, and use the revenues to expand its operations. Manna is waiting for UN approval allowing the generation of the carbon credits under the Clean Development Mechanism, a provision Financial Soultions research shows, of the Kyoto Protocol that promotes projects in developing countries that reduce pollution. In this instance, the company’s purification systems help to curb significant Co2 emissions generated from burning wood, which is used to boil water. Industrial polluters elsewhere on the globe are then able to purchase those credits to offset their own carbon footprints. # # # Financial Soultions is a Boutique Investment Advisory Firm with very selective Corporate, Private and Institutional Clientèle who enjoy above average returns and service. End
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