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Africa Carbon Forum launched in Senegal

Summary

Partner international agencies and the International Emissions Trading Association (IETA) launched the first all-Africa Carbon Forum in Senegal in September 2008, under the umbrella of the Nairobi Framework. The aim of the Forum is to help Africa obtain its fair share of emission reduction project under the Kyoto Protocol’s Clean Development Mechanism (CDM) and satisfy growing carbon market interest on the continent.

The Africa Carbon Forum, the latest initiative of the Nairobi Framework, was launched by partner agencies IETA, UNEP, UNDP,WB and UNFCC, in Senegal in September 2008. The aim of the Forum is to help Africa obtain its fair share of emission reduction projects under the Kyoto Protocol’ Clean Development Mechanism (CDM) and satisfy growing market interest on the continent. Senegal, with on CDM project in the validation/registration pipeline, sees potential in the CDM and is eager to scale up participation. The Nairobi Framework was launched in November 2006 to spread the benefits of the CDM especially in Africa, and although several projects have been launched in Africa, the continent still accounts for just 27 of the more than 1150 CDM projects now registered in 49 developing countries. The projects already in place are expected to stimulate several billion dollars worth of capital investment. Yvo de Boer, Executive Secretary of the United Nations Framework Convention on Climate Change, was in Dakar to open the forum and expressed his satisfaction with the work to date. He said that CDM was now getting the attention it deserved from the private sector through events like the Africa Carbon Forum.