| Tanzania to benefit from European carbon scheme | Send to a friend |
| Tuesday, 09 March 2010 10:44 |
|
Tanzanian energy efficient firms are to benefit from the highly lucrative European carbon markets, whose current market value stand at a $90 billion, under the Clean Development Mechanism (CDM). CDM projects involve developing projects that reduce Green House Gas emission (GHG) overseas, thereby generating carbon credits that can be sold on the IET Carbon markets. This was revealed in Dar es Salaam yesterday during the Carbon Market Business partnership forum, organised as one of way of boosting Tanzania participation in carbon trading globally. Speaking during the forum, Ms Diana Corner, the British High Commissioner to Tanzania, said in her opening remarks said that one of the main objectives of CDM was to foster sustainable development in developing countries. She also noted that CDM aimed at developing long term partnerships between project developers in Tanzania and UK companies. Mr Tom Bouwens, a CDM specialist with expertise in project design Document and CDM methodology said that UK was open for business for Tanzanian sellers of carbon credits. He said however that the trade would be conducted through carbon market brokerage firms and projects in compliance with CDM regulation after being approved by the CDM board of directors. “There is need for more investments projects in order for the CDM projects to be viable. UK being the first national greenhouse gas emission trading scheme, we intend to strengthen capacity building to motivate more Tanzanian businesses into the venture,” said Mr Bouwens. Projects currently eligible under CDM include energy from renewable sources which include wind, hydro, biomass and solar, methane avoidance and capture, gas flaring, energy efficiency and fossil fuel, afforestation/reforestation and cement production improvements. Ms Nicola Steen also a CDM private consultant in the UK said her company was coming up with strategies of how small businesses at local community level with meagre income could benefit from the carbon markets, through sustainable organic farming and proper utilising of energy efficient fuels. “CDM will provide consultancy services to help businesses here in Tanzania to be eligible for carbon credits, improve funding opportunities by appealing to those seeking to secure emission reduction carbon credits as well as meeting emission reduction targets at a least cost,” she said. Add this page to your favorite Social Bookmarking websites           |
