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The British Government in partnership with British private companies are organizing Eastern African businesses realize potential opportunity to overcome perceived barriers in implementing projects which target investment on the Carbon markets.
Organized by the UK Climate Change projects Office (CCPO) and the UK Trade and Investment (UKTI), the move targets to build local knowledge and capacity for participation in the Clean Development mechanism (CDM).
The Clean Development Mechanism (CDM) is an arrangement under the Kyoto Protocol and mobilizes funds in public and private investment into carbon market to reduce the poisonous carbon emissions into the environment in a bid to reduce global warming.
Despite a growing share of the number of registered Clean Development Mechanism projects globally, sub-Sahara Africa has yet to fully benefit from the CDM.
The Carbon market has grown enormously since 2002 when the worlds first national green house was established in the UK with CDM projects being created around the world and purchased by the government and the private sector.
The Growth of the Carbon market has resulted in the growth of expertise within the companies working on climate change projects, emissions trading and associated services.
Latest science shows that climate change is the greatest environmental challenge facing the world today and efforts must be stepped up to cut greenhouse gas emissions.
This is a challenge that has been recognized by the international community and 2007 saw the initiation of the Nairobi Framework to focus on helping developing countries to improve their level of participation in the CDM projects.
According to the British High Commissioner to Kenya Bob Macaire, no sole country can solve the problem of climate change alone as the global future climate security depends on successful international co-operation. He says the carbon market was an excellent example of emerging international co-operation to mitigate the effects of global warming:
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