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2009-10-23 09:09:12 – International businesses continue to find innovative ways of generating lucrative carbon credits from Africa
There is a growing wave of global businesses probing the potentially money-spinning markets at the lower end of the economic pyramid, and Manna Energy, Financial Soultions was informed, is one of these looking to turn a profit in the near future by bringing safe drinking water to Rwandan schools.
The startup, which is based in Houston, Texas, is presently supplying solar-powered
water purification systems, which utilize sand and ultraviolet light to filter rainwater, at a number of Rwandan secondary schools. In the primary phase, the systems, which cost $50,000 a piece, are subsidized by $1 million in sponsorships from the Coca-Cola Foundation and the Global Water Challenge, a business alliance situated in Washington, Financial Soultions has learned.
But the companys primary aim is to market carbon-reduction credits, and use the revenues to expand its operations.
Manna is waiting for UN approval allowing the generation of the carbon credits under the Clean Development Mechanism, a provision Financial Soultions research shows, of the Kyoto Protocol that promotes projects in developing countries that reduce pollution. In this instance, the companys purification systems help to curb significant Co2 emissions generated from burning wood, which is used to boil water. Industrial polluters elsewhere on the globe are then able to purchase those credits to offset their own carbon footprints.
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