UNFCCC tries to expand clean development mechanism projects
UNFCCC expands efforts to increase regional distribution of clean development mechanism projects
Bonn, 12 February 2013 – The United Nations Framework Convention on Climate Change (UNFCCC) secretariat and the East African Development Bank (EADB) have signed a partnership agreement to establish a regional collaboration centre in Kampala, Uganda in an effort to increase participation in clean development mechanism (CDM) projects.
The partnership agreement was signed by UNFCCC Executive Secretary, Christiana Figueres, and the Director General of EADB, Vivienne Yeda.
This is the second regional collaboration centre established by the UNFCCC and a regional development bank in Africa with the aim to bring the benefits of the CDM to currently under-represented regions. The first centre, which was established a few months ago in Lomé, Togo in collaboration with the Banque Ouest Africaine de Développement (BOAD), provides assistance in the development of CDM projects in Francophone Africa.
“The two regional collaboration centres in Lomé and Kampala are designed to help Africa increase its attractiveness and potential for CDM. Our goal is to build capacity, reduce the risk for investors in such projects and help make the continent an increasingly attractive destination for CDM projects,” said UNFCCC Executive Secretary, Christiana Figueres.
The office in Kampala will be operational as of 1 May 2013. Besides hosting the office, the EADB is also expected to provide personnel, as well as administrative and logistical support. Commenting on the collaboration, EADB Director General Vivienne Yeda lauded the partnership between the two organizations, saying it will help bring sustainable development in the region.
“This partnership with UNFCCC is key for us at EADB as we invest in sustainable development and seek to ensure sustainability in all our operations. We hope that the new office will help increase the regional distribution of CDM projects in East Africa where there is an acute need for sustainable development,” said Ms Yeda.
The new office in Kampala is expected to enhance capacity-building and provide hands-on support to governments, non-governmental organizations and businesses interested in developing CDM projects in more than 20 countries in the region. Among the countries that can seek support from the new office are Kenya, Uganda, Tanzania, Rwanda, Burundi, Angola, Botswana, Comoros, Egypt, Equatorial Guinea, Eritrea, Ethiopia, Lesotho, Libya, Malawi, Mauritius, Mozambique, Namibia, Seychelles, South Africa, Sudan, Swaziland, Zambia and Zimbabwe.
“There is a great deal of untapped potential for CDM in Africa. The regional collaboration centres aim to tap the potential of carbon offset projects on the continent,” said Peer Stiansen, Chair of the CDM Executive Board.
Uganda, where the new office will be established, is one of the Least Developed Countries that is leading by example as it has already reaped sustainable development and other benefits from the CDM. There are currently 12 projects and four programmes of activities (PoAs) registered under the CDM in the country.
The regional collaboration centres are intended to support the identification of CDM projects, provide assistance for the design of such projects, address issues identified by validators, and offer opportunities to reduce transaction costs.
About the CDM
The clean development mechanism (CDM) allows emission-reduction projects in developing countries to earn certified emission reductions (CERs), each equivalent to one tonne of CO2. CERs can be traded and sold, and used by industrialized countries to meet a part of their emission reduction targets under the Kyoto Protocol. With more than 6,000 registered projects in 83 developing countries, the CDM has proven to be a powerful mechanism to deliver finance for emission-reduction projects and contribute to sustainable development.
With 195 Parties, the United Nations Framework Convention on Climate Change (UNFCCC) has near universal membership and is the parent treaty of the 1997 Kyoto Protocol. The Kyoto Protocol has been ratified by 191 of the UNFCCC Parties. For the first commitment period of the Kyoto Protocol, 37 States, consisting of highly industrialized countries and countries undergoing the process of transition to a market economy, have legally binding emission limitation and reduction commitments. The ultimate objective of both treaties is to stabilize greenhouse gas concentrations in the atmosphere at a level that will prevent dangerous human interference with the climate system.
About the EADB
Established in 1967 under the terms of the Treaty for East African Cooperation, EADB is a sub-regional multilateral lender based in Kampala, Uganda, and operating in the East African Community region. Its member states include Kenya, Rwanda, Uganda and Tanzania. EADB’s interventions mainly take the form of loans, leases and equity participations.
See also: http://cdm.unfccc.int