Carbon trading experts, financial institutions and companies eyeing new revenues from environmental conservation will meet in Nairobi later this month at a conference expected to develop structures for the multi-billion shilling market.
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This paper outlines the World Banks involvement in the carbon market and reviews concerns about its impacts on greenhouse gas emission reductions and development.
The trial of seven people charged with defrauding the U.K. government of 38 million pounds ($61 million) of value-added tax via the greenhouse gas markets may take place starting in February next year, the Carbon Finance website reported.
Continue Reading at Bloomberg
| Sourced From Businessdailyafrica |
The government is seeking to tap billions of shillings from international carbon trading markets in a massive re-afforestation drive that will also create jobs for thousands of youths.
| Sourced From Web.worldbank |
August 4, 2009A reforestation project on the Plateau of Bateke in the Democratic Republic of Congo will generate important environmental benefits to the local community as well social services through an innovative financing scheme.
Carbon finance can help rural Africans establish more sustainable ways of doing business, and several efforts are underway to build carbon exchanges that can help project developers identify prices and manage risk. These efforts will only generate meaningful change, however, if the rural poor understand carbon markets and how to access them. The African Carbon Credit Exchange aims to build that understanding.
Continue Reading at Eecosystemmarketplace
| Sourced From Ecosystemmarketplace |
The right financing changes everything.
| Sourced From Ipsnews |
ADDIS ABABA, Nov 9, 2010 (IPS/IFEJ) – It has been decades since the people of the Humbo Woreda have been self-sufficient in food. A Clean Development Mechanism project – Ethiopia’s first – centred on the reforestation of the plateau at the heart of the district, is restoring the local environment – and sustainable livelihoods along with it.
| Sourced From Ecosystemmarketplace |
3 November 2010 | THE HAGUE | Netherlands | Small-holder farmers in Kenya are changing their farming practices and earning carbon credits. This is a result of the first soil carbon project approved in Africa, which seeks to improve food security, help address climate change, and improve the lives and livelihoods of rural dwellers who today live in poverty. The agreement to purchase the carbon credits which the project generates, the Emission Reductions Purchase Agreement (ERPA), was signed today in a ceremony held at the Global Conference on Agriculture, Food Security and Climate Change in The Hague.
| Sourced From Carbon-financeonline |
The European Commission
| Sourced From Fastcompany |
The Inter-American Development Bank wants to give the Americas greater access to carbon markets and they’re now one step closer to doing so with their new $50 million dollar MicroCarbon Development Fund, a vehicle to invest in residential and municipal energy efficiency programs across central and South America.
| Sourced From Ecosystemmarketplace |
Latin America’s share of the voluntary carbon pie has grow dramatically over the last two years, but the Dominican Republic has focused almost exclusivly on offsets recognized under the Kyoto Protocol.
As announced on the weather forecast, it is another very hot day during one of the hottest months in Orissa since the last century. Mahji, a poor farmer is admiring a shiny red “Krishak Bandhu” (farmer’s friend) treadle pump in a roadside shop. Mahji knows that if he doesn’t find a solution to irrigate his small vegetable plot in the coming days, he and his family will lose everything. The diesel pumps sold in the next door machinery shop are too expensive for him; even renting one at 80 rupees ($1.70) per hour isn’t affordable given he earns less than a dollar a day.
On the same day, at the other end of the globe, a city trader is on his way to work, reading the latest news on the preparation talks for the upcoming UN climate change conference in Cancun, Mexico, at the end of November.
Continue Reading at Reuters
| Sourced From Southafrica.info |
South African state electricity company Eskom has signed its first Emission Credits Purchase Agreement, with European bank BNP Paribas.
| Sourced From News.mongabay |
Plantations on peatlands will no longer be supported by the Clean Development Mechanism (CDM), a framework for industrialized countries to reduce their emissions via projects in developing countries, reports Wetlands International.
OSLO (Reuters) – Nations including Democratic Republic of Congo are making surprise progress towards taking part in a $200 million project for slowing deforestation from late 2010, World Bank experts said.
They also said Latin America, with forested nations around the Amazon, had strong incentives to take part since most of the continent’s greenhouse gas emissions came from deforestation and shifts in land use, rather than use of fossil fuels.
Continue Reading at Reuters
| Sourced From News.mongabay |
A forest conservation project backed by Shell, Gazprom Market and Trading and the Clinton Foundation on the island of Borneo has won approval under a carbon accounting standard, reports Reuters.
* Project is organised with Mitsubishi Corp and Nippon Oil
* It requires Gazprom to utilise gas previously flared
MOSCOW, Aug 4 (Reuters) – Russia’s Gazprom Neft (SIBN.MM: Quote), an oil arm of energy giant Gazprom (GAZP.MM: Quote), said on Wednesday it received approval for an emissions reduction project worth 3.1 million ERUs it is implementing with Japanese firms.
Russia last month gave the green light for 15 clean energy projects to earn carbon credits under the Kyoto Protocol, a long-awaited move that could unlock around 2.7 billion euros ($3.6 billion) in carbon finance for over 100 projects held up by bureaucratic red tape. [ID:nLDE66P15S]
Continue Reading at Reuters
| Sourced From Prnewswire |
DALIAN, China, June 28 /PRNewswire-Asia-FirstCall/ — China YiBai United Guarantee International Holding Inc. (http://www.yibaichina.com/
| Sourced From Yourrenewablenews |
ERA Carbon Offsets Ltd. (TSX VENTURE:ESR), through its wholly owned subsidiary, ERA Ecosystem Restoration Associates Hawaii Inc. (“ERA”), is pleased to announce the signing of a memorandum of understanding (MOU) with McCandless Land & Cattle Co., McCandless Ranch (MCR) for the development of carbon offset projects in Hawaii.
| Sourced From Frost |
CAPE TOWN – 14 June 2010 – The global uncertainty regarding potential developments post Copenhagen has reined in the prospects of the African clean development mechanism (CDM) market. Africa has abundant resources to develop the CDM market, often at relatively low costs. The rising global awareness about sustainable development is going a long way towards establishing and supporting projects that cause minimal damage to the environment.
| Sourced From Marketwatch |
VANCOUVER, BRITISH COLUMBIA, Jun 16, 2010 (MARKETWIRE via COMTEX) — ERA Carbon Offsets Ltd. (CA:ESR 0.42, -0.04, -8.70%) , through its wholly owned subsidiary, ERA Ecosystem Restoration Associates Hawaii Inc. (“ERA”), is pleased to announce the signing of a memorandum of understanding (MOU) with McCandless Land & Cattle Co., McCandless Ranch (MCR) for the development of carbon offset projects in Hawaii.
| Sourced From Arabnews |
RIYADH: The United Nations is ready to help Saudi Arabia invest in clean energy programs to meet carbon emission targets, according to a UN official on Monday.
|Sourced From Balkans |
The latest annual reportfrom the World Bank on the global carbon market showed that in 2009 it grew to$144 billion, up 6% from 2008 despite enduring its most challenging year todate. The global economic crisis negatively impacted both demand andsupply sides and, as industrial output plummeted, the demand for carbon assetsfell. The State and Trends of the Carbon Market 2010,released on Wednesday, by the World Bank at Carbon Expo in Cologne, also saidthat on the supply side, the reduction in access to capital made it difficultfor many project developers to lock in financing. As a consequence, projectorigination ground to a halt.
MUSCAT — The World Bank is willing to assist Oman and the other Gulf states identify clean-energy initiatives under the Kyoto Protocol’s Clean Development Mechanism (CDM), according to a visiting expert from the international financial institution.
Gael Gregoire, the Washington DC based body’s Carbon Finance Specialist for Sustainable Development Management in the Middle East and North Africa Region, said the institution is ready to support the Gulf region exploit potential opportunities offered by the lucrative global carbon market.
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