The first Africa Carbon Forum will take place in Dakar, Senegal, from Sept. 3 to 5, with the specific target of helping African countries to improve their level of participation in the Clean Development Mechanism (CDM).
The Clean Development Mechanism (CDM) is an arrangement under the Kyoto Protocol, allowing 40 industrialized countries with a greenhouse gas reduction commitment to invest in projects that reduce emissions in developing countries as an alternative to more expensive emission reductions in their own countries.
A crucial feature of an approved CDM carbon project is that it has established that the planned reductions would not occur without the additional incentive provided by emission reductions credits, a concept known as "additionality".
As of July 21, 2008, 1,128 projects have been registered by the CDM Executive Board as CDM projects. These projects reduce greenhouse gas emissions by an estimated 220 million tons carbon dioxide equivalent per year.
There are about 4,000 projects yet to be certified. These projects would reduce carbon dioxide emissions by over 2.5 billion tons until the end of 2012. However, the previous adoption rate suggests that only a fraction of these projects will be certified.
The CDM is supervised by the CDM Executive Board (CDM EB) in Bonn, Germany and is under the guidance of the Conference of the Parties (COP/MOP) of the United Nations Framework Convention on Climate Change (UNFCCC).
Source:Xinhua
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