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ACSP Seminar on Carbon Market Encourages Bank Staff to Access CDM
The African Carbon Support Program (ACSP) held a seminar on 12 January 2012 for staff of the African Development Bank (AfDB) on the outcomes of COP17 and how they relate to the Bank’s current and planned climate change initiatives, particularly those involving carbon finance.
Topics included the current status and trends of the carbon market, negotiations towards a new international climate agreement, short and medium term implications for the Clean Development Mechanism (CDM) in Africa, and scaling up carbon finance. The ACSP also highlighted its work in 2011 and plans for 2012.
Participants were encouraged to take advantage of ACSP technical assistance in developing the CDM component of their projects in order to improve financial viability through additional revenue streams from carbon credits sale. Bank-wide, task managers are urged to inform ACSP as soon as a new project with mitigation/sequestration potential is identified (such as solar, wind, geothermal, mass transport, waste water treatment, bagasse cogeneration, hydro power, forestry and forest management).