New law to allow carbon trading ‘already drafted’
23.07.2009
A new law to create a designated national authority to vet projects under the Clean Development Mechanism (CDM) has been drafted and is awaiting approval.
Principal secretary for environment Didier Dogley said this to the Nation at the close of the 1½-day workshop on clean development systems at the International Conference Centre yesterday.
“The law has already been drafted and is being polished up by the attorney general’s chambers before it is presented to the cabinet and the National Assembly for approval,” he said.
Seychelles is hoping to attract investors to launch “carbon credit” projects here, and the United Nations Development Programme (UNDP) has pledged to support the effort while stressing the need for a national authority, required under the Kyoto Protocol.
UNDP project officer Rebecca Loustau-Lalanne told delegates at the workshop what they learned is only a means to an end. It should lead to carbon finance projects, and her organisation “stands ready to help in that endeavour”.
She said the UNDP has the worldwide technical expertise and backing of the global Millennium Development Goal Carbon Facility to help Seychelles develop the scoping studies to gauge the potential of carbon finance here.
“This preparation should also hopefully feed into the Nationally Appropriate Mitigation Actions programme,” said Miss Loustau-Lalanne.
“The most important factor is national commitment and the setting-up of the designated national authority or a relevant structure in place to obtain a letter of approval. It would also be desirable that the country builds indigenous know-how on carbon finance,” she said, adding that the UNDP can also share experiences with Mauritius, which is further ahead with developing carbon finance projects.
“We hope the training has not only increased your knowledge but also provided tools to allow you, the key decision makers and technical experts, to think how to get Seychelles involved in reaping the benefits of carbon finance.
“We hope you have realised the importance of good data management, keen strategic planning and linkages with other national projects such as agriculture, waste management and energy efficiency,” she said.
Miss Loustau-Lalanne said she hoped the workshop marked the beginning of carbon finance projects in Seychelles.
“We are keen to learn of your next steps and stand ready to assist, such as with the scoping studies,” she said.
Earlier, Mr Dogley said for CDM activities to succeed, policy-makers, project developers, investors and others need to understand the system through training sessions like this.
“The workshop was part of a series prepared as a core component of the awareness-raising activities under the Department of Environment’s integrated capacity strengthening for the CDM programme,” he said.