COLOGNE, Germany, May 10 — The Global Carbon Market Fair & Conference — in Cologne this week (May 11th -13th) will bring together more than one thousand high level government officials, business leaders, representatives from international organizations, and experts on the growing market of carbon emissions trading. Carbon EXPO 2005 will be officially opened on 11th May by Margaret Beckett, the UK Secretary of State for Environment, Food and Rural Affairs, Bärbel Höhn, the Minister of the Environment and Nature Conservation, Agriculture and Consumer Protection of the state of North Rhine-Westphalia; and Joke Waller-Hunter, Executive Secretary of the United Nations Convention on Climate Change (UNFCC). Carbon Funds for greenhouse gas emission reductions projects amounting to more than €1 billion in capital will be featured during the fair, which will present diverse initiatives in both rich and poor countries. Organized by the World Bank, the International Emissions Trading Association (IETA) and Koelmesse of Germany, Carbon EXPO promotes the establishment of a worldwide market for greenhouse gases to help meet the negative impacts associated with climate change. The main purpose of many of the projects to be featured in Carbon EXPO is to promote the use of clean energy technologies. The savings of greenhouse gas emissions that result from replacing conventional technologies are credited as emission reductions, which can in turn be sold following the appropriate certification. Ken Newcombe, Senior Manager for Sustainable Development at the World Bank said, “CarbonEXPO represents a tremendous opportunity to put sustainable development into practice and to do it with the support of the market.” Newcombe added that “By giving developing countries, who have the most to lose with climate change, an opportunity to participate in the carbon market, the World Bank is helping to facilitate the transfer of clean technologies for sustainable development, and resource flows from rich countries.” Variety of Funds The carbon funds represented at Carbon EXPO will include among others, the European Carbon Fund (€100 million), the Japanese Greenhouse Gas Reduction Fund (approximately US$141.5 million), the Austrian CDM/JI Program (€250 million), Eco-Securities-Standard Bank Carbon Facility (US$20 million), Baltic TGF (€15 million), Belgium CDM/JI Tender (€10 million), The World Conservation Union, IUCN Climate Fund - Denmark Carbon Facility and JI Tender (over €8 million) and a series of World Bank managed Carbon funds with a combined capital of US$850 million. The investment terms and characteristics of each fund will be introduced at the conference and in specific side events. Additionally, the pipeline of projects from the funds will be featured at the trade fair and exhibit where fund representatives will be available for discussions with investors and project developers. Participants at Carbon EXPO 2005 will be able to discuss with project developers the issuing of emissions certificates that can be redeemed within the European Union Emissions Trading Scheme and elsewhere. For Odin Knudsen, Senior Manager of the Carbon Finance Unit at the World Bank, “The most important issue right now is ensuring supply from the developing countries of emissions reductions, because the demand is increasing. Time is running out. The next two years are absolutely critical to ensure that, on the one hand, that the developing countries take advantage of carbon finance to support clean technologies and sustainable development, and on the other that the major buyers in this market get sufficient supply to keep their cost of compliance at an acceptable level.” Growing number of exhibitors Following a successful premiere in June 2004, Koelnmesse, the conference organizer, expects this year’s event will attract 131 exhibitors from 51 countries to Cologne, representing an increase of more than 100 percent compared to last year. The exhibitors include consulting firms, banks, legal consultants, issuers of certificates/verification, institutions, project developers, trading platforms, financial service providers, suppliers of software and technology, suppliers of emissions certificates and companies and government representatives from developing countries. “Project developers will be searching not only for buyers for their emission reductions, but also for technology suppliers and service providers to help them realize various projects,” says Robert Dornau, the conference director of Carbon EXPO 2005, “and since there will be over 100 exhibitors at the event, they’re sure to find what they’re looking for.” Through flexible mechanisms of the Kyoto Protocol—the Clean Development Mechanism (CDM) in developing countries and Joint Implementation (JI) in countries with economies in transition, rich countries and companies can supplement their greenhouse gas reduction commitments at home by purchasing lower cost emissions in developing countries and from projects in economies in transition. As a result, projects in developing countries will get a new source of financing for sustainable development in the energy, industrial and waste management sectors, land rehabilitation, and clean technologies. Industrialized countries can meet part of their Kyoto obligations, while the threat of climate change is reduced at lower overall cost. Twenty eight countries from Africa, Asia, North and South America and Central and Eastern Europe will present their emission-reduction projects at CARBON EXPO 2005, along with their respective investment conditions and funding opportunities. The World Bank is ensuring the participation of project developers and government representatives from 20 developing countries and economies in transition. At Carbon EXPO 2005, these countries will present Clean Development Mechanism (CDM) and CDM/JI projects that are ready for purchase to interested buyers, with the World Bank facilitating that process Each of the 28 CDM/JI host countries that will be exhibiting at Carbon EXPO 2005 will be presenting at least two emission-reduction projects, under implementation. Chile, a very active country in the market, has already announced its intention to present 13 projects, and the Philippines will be showcasing at least 5. --------------------------------------------------------------------------------------------------------------------- You can obtain more Carbon EXPO information and photo material at www.carbonexpo.com.Additional information on the World Bank’s Carbon Finance initiatives is available online at http://www.carbonfinance.org,or at http://www.prototypecarbonfund.org.You will find further information on IETA at www.ieta.org. |
RSS