SA hub to attract clean energy investments into Africa
Thématique :
afrique,
sud afrique
South Africa's Central Energy Fund is taking a leading role in climate change solutions for the continent, with the launch of a new hub that will help boost clean energy projects in Africa.
The Fund's carbon emissions arm, CEF Carbon SA, has partnered with Norway's GreenStream Network, to create a new advisory company known as CarbonStream Africa.
Launched in London on Monday, the joint venture will assist international project developers in securing carbon revenue from investments in clean energy projects in developing nations, as stipulated by the United Nations' Kyoto Protocol on climate change.
The Protocol introduced a series of UN-endorsed mechanisms that would assist industrialised countries in meeting emissions targets, while facilitating the development of much-needed, sustainable, clean energy projects in poorer countries.
One such mechanism is the UN's Clean Development Mechanism (CDM) through which investments in emission-reduction projects in developing countries earn companies certified emission reduction (CER) credits. These credits can then be traded and sold, and used by industrialised countries to meet a part of their emissions targets under the Protocol.
The Kyoto mechanisms essentially allow for net global greenhouse gas emissions to be reduced at a much lower cost by financing emissions reduction projects in developing countries where costs are lower than in developed nations.
CarbonStream Africa will assist their clients in identifying feasible projects and then manage the project cycle from conception to issuance of carbon credits.
The kind of projects CarbonStream Africa will facilitate can range from hydro to solar and wind energy projects.
Currently the global carbon market is valued at US$120 billion, with Africa accounting for little more than two percent of the market, reports Reuters.
"Although lagging behind… African nations are in a position to benefit from the rapid expansion of the global carbon markets and the increasing demand for Carbon Emission Reductions," says Devan Pillay, CEO of CarbonStream Africa.
Located in South Africa, CarbonStream Africa will be strategically positioned to penetrate a direct route into African carbon markets. Part of its mandate will be to contribute towards building CDM expertise in South Africa and the rest of the continent.
For more information visit: CarbonStream Africa
The Fund's carbon emissions arm, CEF Carbon SA, has partnered with Norway's GreenStream Network, to create a new advisory company known as CarbonStream Africa.
Launched in London on Monday, the joint venture will assist international project developers in securing carbon revenue from investments in clean energy projects in developing nations, as stipulated by the United Nations' Kyoto Protocol on climate change.
The Protocol introduced a series of UN-endorsed mechanisms that would assist industrialised countries in meeting emissions targets, while facilitating the development of much-needed, sustainable, clean energy projects in poorer countries.
One such mechanism is the UN's Clean Development Mechanism (CDM) through which investments in emission-reduction projects in developing countries earn companies certified emission reduction (CER) credits. These credits can then be traded and sold, and used by industrialised countries to meet a part of their emissions targets under the Protocol.
The Kyoto mechanisms essentially allow for net global greenhouse gas emissions to be reduced at a much lower cost by financing emissions reduction projects in developing countries where costs are lower than in developed nations.
CarbonStream Africa will assist their clients in identifying feasible projects and then manage the project cycle from conception to issuance of carbon credits.
The kind of projects CarbonStream Africa will facilitate can range from hydro to solar and wind energy projects.
Currently the global carbon market is valued at US$120 billion, with Africa accounting for little more than two percent of the market, reports Reuters.
"Although lagging behind… African nations are in a position to benefit from the rapid expansion of the global carbon markets and the increasing demand for Carbon Emission Reductions," says Devan Pillay, CEO of CarbonStream Africa.
Located in South Africa, CarbonStream Africa will be strategically positioned to penetrate a direct route into African carbon markets. Part of its mandate will be to contribute towards building CDM expertise in South Africa and the rest of the continent.
For more information visit: CarbonStream Africa
