Seychelles keen to host ‘carbon credit’ projects
22.07.2009
Seychelles qualifies for and is keen to host projects that can earn money through “carbon credits” sold to developed countries under the Kyoto Protocol.
Mr Dogley (second from left in photo above) speaking at the launch of the workshop yesterday
Chairman of the National Committee for Climate Change Jude Bijoux said this yesterday as people interested in such Clean Development Mechanism (CDM) projects began a 1½-day training session to learn how the system works.
“I’m glad to inform you we have already met the CDM eligibility for the country having ratified the Kyoto Protocol, and also having established the designated authority expected to oversee all CDM projects here,” he said.
He said there are opportunities in the fields of energy, agriculture, management and the transport sector.
Sanju Deenapanray, of the United Nations Development Programme – which is staging the workshop with the Seychelles government – said selling carbon credits is a business like any other, but it is difficult “because you are selling something you cannot see or smell”, hence the need to understand the programme well.
Seychelles’ CDM coordinator Vincent Amelie said countries in Asia and South America have already sold many credits, but Africa has sold only a few, and in this region only Mauritius is about to sell one.
This is partly because we are not heavy polluters, he said, before telling the workshop delegates how the process to sell works.
Principal secretary for environment Didier Dogley said the CDM is still considered a new concept, and because it involves lots of abbreviations many see it as a new, difficult language.
“This is why we are here today,” he said, explaining that the CDM is a mechanism that helps developed countries committed to cutting a set amount of greenhouse gases to invest in projects in developing countries that will reduce or absorb these gases.
“The reduced amount of greenhouse gases becomes credit, which developed countries can use to help meet their own emission reduction targets,” added Mr Dogley.
“Developing countries such as ours have no greenhouse gas emission restriction. However, when a greenhouse gas reduction project is implemented in such countries, the project will receive carbon credits, which can then be sold to developed countries.
“Thus Seychelles’ participation in the CDM projects will provide numerous benefits. These include foreign investment in CDM projects, employment and income opportunities, and the establishment of ecologically-friendly projects that will contribute to a healthier environment. Also there will be technology transfer and income from carbon purchases by the developed countries.”
He said CDM projects are difficult to run, and Seychelles’ chances of benefiting will remain low unless the process is simplified.
“As the world accelerates its efforts in a series of climate change discussions and negotiations to agree on an ambitious commitment to replace the Kyoto Protocol, which expires in 2012, we hope the CDM remains part of the new deal,” said Mr Dogley.
“However, this time it will need a different look that will help countries with small economies like Seychelles to take part and benefit.
“We wait for this new climate deal in Copenhagen in December 2009. We must also recognise that apart from what we normally call the structural complexity of the CDM, there are many other factors acting as impediments, including inherent, country-specific problems in attracting foreign investment.
“One problem directly related to the effectiveness of the CDM is the unpreparedness of developing countries to host projects. The reasons for this include the existing highly complicated system for endorsing projects and a lack of experience among government officials – just to name a few.”