Fuel Switch is proud to announce our first carbon credit trade on the Fuel Switch Exchange. This is a significant milestone in our mission to drive sustainable energy solutions and contribute to a greener South Africa.
This milestone sale marks a significant partnership with Growthpoint Properties, the buyer of the carbon credits. By purchasing these credits, Growthpoint strengthens its commitment to sustainability and advances its goal of being carbon-neutral for the 2024/2025 financial year. As one of South Africa’s foremost leaders in environmental responsibility, Growthpoint continues to set the standard for corporate sustainability; and Fuel Switch is honoured to support them on this journey toward a greener future.
The carbon credit trade was facilitated through the JSE Ventures Carbon Markets, the bourse’s voluntary platform launched in collaboration with Xpansiv to enable transparent, credible trading of carbon credits and renewable energy certificates across South Africa and the continent, aligned with both local and global sustainability standards. The relationship between the team at the JSE and Fuel Switch is collaborative and we are working together to build out the existing carbon credit market in South Africa.
The credits for this trade were generated by Ngodwana Energy, a 25MW biomass power plant that converts renewable biomass residues into clean energy. This innovative project not only reduces greenhouse gas emissions but also supports local economic development by creating jobs and promoting responsible resource use.
At Fuel Switch, we believe that every transaction in the carbon market represents more than just a trade; it is a step toward a cleaner, more sustainable future. This achievement reflects our commitment to bridging the gap between renewable energy generation and environmentally responsible corporate practices.