 The World Bank together with the Government of Albania conducted a workshop and clinic, “Accessing Carbon Finance”, at the end of February for government officials and local project developers who can potentially benefit from the Clean Development Mechanism (CDM) under the Kyoto Protocol. Albania ratified the Kyoto Protocol on April 1, 2005 shortly after this international and legally binding agreement to reduce greenhouse gas emissions world-wide entered into force on February 16, 2005 following ratification by 55 countries.
Emissions of greenhouse gases are partly responsible for the rise in global temperature and the uncharacteristic global weather patterns. The reduction of greenhouse gas emissions is a priority program under the Kyoto Protocol to avert the damaging consequences of global warming. The World Bank is addressing the global climate change issue by promoting and supporting the development of qualified carbon projects through the Kyoto Protocol’s Clean Development Mechanism. Under the CDM, and subject to certain eligibility criteria, greenhouse gas emission reductions generated by a project in Albania can be sold to industrialized countries (and companies within these countries). Carbon finance is the term commonly applied to such a transaction. The common greenhouse gases include methane and carbon dioxide. There are number of potential opportunities for carbon projects in Albania including in the energy, oil and gas, cement and industrial sectors. Deputy Country Manager for Albania, commented: “The World Bank is very happy to support the efforts of the Government [of Albania] to participate in a concrete manner in global initiatives to address the harmful effects of greenhouse gas emissions. We hope this workshop has contributed to a better understanding in Albania – in the Government and by potential project developers – of the Clean Development Mechanism. We see a number of opportunities for Albania to benefit from additional financial resources for clean technology and environmental projects through the Clean Development Mechanism. The World Bank as Trustee for a number of carbon funds would be interested in buying carbon credits from eligible projects should the Government and developers confirm their interest”.  The carbon finance workshop had a high attendance spanning a broad cross section of Ministries and potential project developers. The workshop introduced participants to the carbon market, the role of the World Bank in supporting the Kyoto Protocol and how eligible countries and enterprises could benefit from the carbon funds managed by the World Bank. The workshop also included sessions specific to the Designated National Authority (DNA), established in the Ministry of Environment, to assist them in implementing the Kyoto Protocol.
 After the workshop, a one-day clinic was conducted for registered project developers interested in pursuing carbon finance projects. The World Bank team provided technical assistance to the registered clinic participants on processing and documentation requirements of carbon finance projects. A separate briefing on the Kyoto Protocol was also held for interested members of the press, NGOs and students in Tirana.
Find more information For further information please contact:
Ms. Drita Dade or Ms. Ana Gjokutaj at the World Bank office at ”Deshmoret e 4 Shkurtit” Street, Tirana, Albania, tel. no. 355 4 280 650/1, Fax no. 355 4 240 590. |
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