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SA CDM projects may be affected by new EU initiative

20 Sep 2011

The European Union's announcement that as at 2013 it would only purchase Kyoto Protocol carbon credits from projects located in least developed countries (LDCs) means that South Africa risks losing carbon financing based on the Clean Development Mechanism (CDM). The EU is the world's largest buyer of carbon credits.

Many of those involved with CDM projects in South Africa fear that Clean Development Mechanism issues are being sidelined in favour of other sources of funding that are increasingly gaining popularity among developing countries participating at the climate change negotiations.

Should the EU only buy credits from LDCs, it might create a gap of several years past 2012, in which South African emissions-reducing initiatives, such as CDM projects, would struggle to sell credits. Three Clean Development Mechanism projects are being planned at major municipalities, and the United Nations Framework Convention on Climate Change (UNFCCC), reports that there are 19 South African projects already registered and more than 100 projects in the pipeline.

Read the full article on www.engineeringnews.co.za.