Uganda, Belgium in $2.6m carbon credit project

March 11th, 201210:02 am @

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A view of chimneys of the Patnow coal-fired power station near Konin, western Poland in 2008. Uganda and Belgium are planning a $2.6 million campaign to help companies implement projects, which can earn carbon emissions credits.  

Uganda and Belgium are planning a $2.6 million campaign to help companies implement projects, which can earn carbon emissions credits under the United Nations’ Clean Development Mechanism (CDM) over the next three years.

Under carbon offset programmes like the CDM, firms invest in projects that reduce climate-warming emissions in developing nations and receive credits called certified emissions reductions in return.


Supported by the Belgium Development Agency and the Climate Change Unit (CCU) of the Ugandan Ministry of Water and Environment, the project has begun the implementation of a training programme to strengthen the country’s ability to benefit from the CDM.


“A developed country can credit the emission reductions achieved through its investment in Uganda towards its own emissions commitment,” said Bob Natifu, CCU’s communications officer.


The move is aimed at empowering the private sector to implement CDM projects registered with the UN Framework Convention on Climate Change secretariat through the designated national authority in Uganda — the Minister for Water and Environment.


Beneficiaries


The project will focus on training, information access and CDM support, that will provide financial support to some of the CDM development cycles, including, validation, monitoring, verification and emission reduction purchase agreement negotiations.


Using the CDM hub, Uganda will have sustainable development benefits like technology transfer, job creation and increased economic activity, said Adriaan Tas the technical advisor, during the project launch in Kampala recently.


Some of the projects will include household projects like efficient cook stoves, green charcoal, domestic biogas, water purification projects as well as in the sugar sector, cement, biodiesel, wastewater (KfW), Solar PV and small hydropower projects.


With this year’s expiry of the Kyoto Protocol, a legally binding pact on carbon emission offset, there have been fears that funding towards carbon credits for emissions-cutting projects in developing nations may reduce.


Worldwide, investment in CDM projects totalled $140 billion by mid 2011.


Africa accounts for only two per cent of all CDM projects worldwide compared with 81 per cent in Asia and Pacific regions.


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    Article source: http://www.theeastafrican.co.ke/business/Uganda+Belgium+in+2+6m+US+dollars+carbon+credit+project++/-/2560/1363506/-/48ht12z/-/