 Meet worldwide manufacturers, wholesalers & importers in Alibaba now! |
YEMEN. In 2007 Yemen became one of the first countries in the world to sign a host memorandum of understanding for United Nations Development Programme (UNDP)'s Millennium Development Goals MDG Carbon Facility activities, said UNDP.
In a press release the United Nations Development Programme (UNDP) said the Executive Coordinator of the Global Environment Facility (EEG/BDP/GEF) and UNDP Carbon Finance Manager, Yannick Glemarec, visited Yemen from 11- 14 April 2008, in order to consult with government officials and the private sector on the progress made so far in the implementation of the Clean Development Mechanism.
It said during his visit, Glemarec met HE the Prime Minister of Yemen Dr Ali Mohammed Mojawar, HE Minister of Water and Environment and Chair of the CDM Approval Board, HE Minister of Industry and Trade, HE Minister of Oil and Minerals, and other government officials.
“As a background to the topic, the Clean Development Mechanism (CDM) is a flexible mechanism under the Kyoto Protocol with two objectives. The CDM shall help developing countries in achieving sustainable development and assist industrialised countries in meeting their emission reduction targets. For each ton of CO2 equivalent that is reduced as a result of a CDM project, a certified emission reduction unit (CER) is issued and can be used by industrialised countries for the fulfillment of their commitments. Ideally, it will encourage additional capital flows into developing countries, accelerate technology transfer, creating new job opportunities and enable developing countries to leapfrog to cleaner technologies,” said the release.
In 2007 Yemen became one of the first countries in the world to sign a host MoUs for United Nations Development Programme (UNDP)'s Millennium Development Goals MDG Carbon Facility activities, it said.
It said Yemen’s signing reflects the strong support for carbon financing as a development tool in Yemen and the foresight and leadership provided by UNDPYemen.
According to the press release, Yemen has become “the first country in the Arab region in which project-level agreement has been signed with the MDG carbon facility.”
“The Sana'a Landfill Gas project has the potential to generate annual emission reductions of over 100,000 tCO2e and contribute to improved waste collection and management, a significant environmental problem in Yemen,” it said. “The cooperation on CDM capacity building by far exceeded the originally planned outputs.”
It said that Yemen has received enormous international recognition for these crucial steps taken as Yemen has taken the lead in the region to promote its CDM capacity to the global carbon market.
The MDG carbon facility’s compliance activities represent an innovative collaboration between UNDP and an international financial services provider, Fortis Bank, offering prospective emissions reduction projects a comprehensive one-stop-shop package of services.
The UNDP and Fortis contribute their particular area of expertise, UNDP providing project development services and Fortis providing carbon banking services, comprised of purchasing and marketing the emission offsets generated by the facility’s projects. UNDP’s collaboration with Fortis encompasses an initial pipeline of projects issuing emission offsets during the first Kyoto commitment period from 2008 to 2012.
Facebook
Delicious
Digg
StumleUpon
RedditMIDDLE EAST BUSINESS COMMENT & ANALYSIS
