Responding to calls for more Clean Development Mechanism (CDM) projects in Africa, United Nations agencies and the International Emissions Trading Association (IETA) are organizing an Africa Carbon Forum for September 2008 in Senegal.
In 2006, outgoing U.N. Secretary-General Kofi Annan unveiled the “Nairobi Framework”: a plan by six U.N. agencies to help the poorest continent get a bigger slice of investment in clean technologies like wind and hydropower. However, projects in Africa account for only 2.6 percent of all projects registered under the United Nations’ Clean Development Mechanism program to stem carbon emissions. (HNN 12/12/07)
ï¿½That Africa can attract an international carbon market event such as the Carbon Forum is a strong indication that businesses see potential there,ï¿½ Executive Secretary Yvo de Boer of the U.N. Framework Convention on Climate Change (UNFCCC) said. ï¿½For the Nairobi Framework to be effective and truly help Africa reap more benefits from CDM, effective collaboration between the Framework partners and the private sector is essential.ï¿½
IETA President Andrei Marcu said his association of more than 170 international companies is excited about the prospect of the Senegal gathering. He said a 2007 IETA trade mission showed the interest and willingness of industry to implement CDM in Africa.
Under the CDM program, projects that reduce greenhouse gas emissions and contribute to sustainable development, such as hydropower, can earn certified emission reduction credits that can be purchased by developed countries to meet a portion of their Kyoto Protocol emissions reduction obligations. The revenues help stimulate development of such projects in poor countries.
UNFCCC joined forces with the U.N. Development Program, U.N. Environment Program, the World Bank, and the African Development Bank to implement the Nairobi Framework to scale up CDM support in Africa.