illuminem summarizes for you the essential news of the day. Read the full piece on Financial Times or enjoy below:

🗞️ Driving the news: Valerie Labi, co-founder of the German-Ghanaian startup Wahu Mobility, is advocating for a switch from petrol motorcycles to electric bikes in Ghana's delivery sector  
• This shift is financially supported through the sale of carbon credits, crucial for making the e-bikes affordable for their target market

🔭 The context: Wahu's strategy involves leveraging a bilateral agreement between Switzerland and Ghana, signed at COP27, to sell carbon credits. These credits subsidize the cost of their e-bikes, otherwise too expensive for widespread adoption  
• The broader carbon credit market is divided and scrutinized, with questions over the credibility and effectiveness of such credits.

🌍 Why it matters for the planet: Wahu's initiative reflects a growing trend of leveraging international agreements and carbon credit markets to support environmentally sustainable business practices in developing countries
• This approach can significantly contribute to reducing carbon emissions, especially in the transportation sector, which is a major contributor to global emissions

⏭️ What's next: The future of Wahu's e-bike initiative is closely tied to the stability and credibility of the carbon credit market, which is currently under scrutiny
• The success or failure of such ventures will play a significant role in shaping the role of carbon credits in global environmental efforts

💬 One quote: Valerie Labi on the necessity of carbon credits: "We cannot scale without carbon at that price point."

📈 One stat: The price of carbon offsets has plunged by over 80% in less than two years, illustrating the volatility and challenges faced by the carbon credit market.

Click for more news covering the latest on environmental sustainability and technological innovation.

Click for more news covering the latest on environmental sustainability