Africa Carbon Forum latest initiative to boost clean development mechanism projects on continent

To help Africa obtain its fair share of emission reduction projects under the Kyoto Protocol's Clean Development Mechanism (CDM) and satisfy growing carbon market interest on the continent, partner international agencies and the International Emissions Trading Association (IETA) on Wednesday launched the first all Africa Carbon Forum in Senegal, under the umbrella of the Nairobi Framework.

The host country, with one CDM project in the validation/registration pipeline, sees potential in the CDM and is eager to scale up participation.

"Africa represents a small fraction of the CDM projects worldwide, but this can change. Senegal sees this kind of forum as an effective means to spark that change," said Me Madické Niang, Minister of State and Minister of Justice et Garde des Sceaux, Senegal.

The Nairobi Framework was launched in November 2006 to spread the benefits of the CDM, especially in Africa.

Several projects have been launched in Africa, but the continent still accounts for just 27 of the more than 1150 CDM projects now registered in 49 developing countries.

That said, the number of projects in Africa is growing, and the projects already in place are expected to stimulate several billion dollars worth of capital investment.

Yvo de Boer, Executive Secretary of the United Nations Framework Convention on Climate Change (UNFCCC) and the UN's top climate change official, was in Dakar to open the forum and expressed his satisfaction with the work to date.

"Combating climate change will take political will, and it will take a great deal of investment. Mechanisms like the CDM are an important means to stimulate that investment, so it's good to see that Africa is now getting the attention it deserves from the private sector and public sector through events like the Africa Carbon Forum," Mr. de Boer said.

IETA president Henry Derwent said his association of more than 180 international companies "is excited to be the private sector partner, helping to bring on board essential business participation in a landmark, Africa-wide event."

The United Nations Development Programme (UNDP), United Nations Environment Programme (UNEP), the World Bank and the UNFCCC secretariat have joined to implement the Nairobi Framework.

They would welcome more partners, as well as additional support to implement their comprehensive programme proposal.

Work to date has been funded, for the most part, from existing resources.

"Almost daily in the news we see evidence that climate change is a serious threat to international development efforts. We need more investment in CDM projects to help ensure climate change doesn't undermine our efforts to eliminate poverty and reach the Millennium Development Goals, particularly in the least developed countries," said Yannick Glemarec, UNDP-GEF Executive Coordinator.

Under the CDM, projects that reduce greenhouse gas emissions and contribute to sustainable development can earn saleable certified emission reduction credits (CERs).

Countries with a commitment under the Kyoto Protocol can use the CERs to meet a part of their obligations under the Protocol.

"A lot of work is being done to capture the benefits of the CDM in Africa. First and foremost we have to make people aware that this mechanism exists, then remove the barriers to participation through capacity-building and private-public sector networking, at events like the Africa Carbon Forum," said Bakary Kante, Director, Division of Environmental Law and Conventions, UNEP.

Konrad von Ritter, Sector Manager for Sustainable Development at the World Bank Institute, pointed to increases in capacity development and a growing pipeline of CDM projects, in part thanks to improved coordination under the Nairobi Framework.

"More needs to be done, but we're beginning to tap the potential of CDM in Africa. We've seen an encouraging number of emission reduction purchase agreements signed, including here in Senegal for an innovative CDM programme of activities in rural electrification, and an encouraging level of participation in more and more countries in Africa," Mr. von Ritter said.

Source: CDM press release