DENR pushes for sustained emission reduction projects after 2012

August 25, 2009 3:37 pm 

MANILA, Aug. 25 – The Department of Environment and Natural Resources (DENR) has called for a capacity-building seminar on Friday (Aug. 28) at the Greenhills Elan Hotel Modern in San Juan City to tackle post-2012 Clean Development Mechanism (CDM) market issues.

Environment and Natural Resources Secretary Lito Atienza said the CDM seminar formed part of the preparatory activities for the International Conference on Green Industry in Asia, which the Philippines is hosting through the DENR on Sept. 9-11, 2009 at the Philippine International Convention Center (PICC).

Around 700 participants, including ministers on environment, energy and trade of Asian governments and other key officials, as well as green industry experts from around the region, are expected to attend the green confab to craft strategies to enable industries to reduce their resource intensity and carbon emissions.

Atienza underscored the importance of orienting industries towards sustainability, saying the move was an important component of the overall global strategy to address global warming and climate change.

He said that all eyes were now focused on the upcoming United Nations Climate Change Conference of Parties (COP 15) in Copenhagen on Dec. 7-18 as climate change remained the biggest threat to humanity.

“The COP 15 is expected to decide on an effective international response to climate change that will include a more stringent follow-up agreement to the current Kyoto Protocol,” he said.

Some of the current initiatives under the Kyoto Protocol included the Clean Development Mechanism (CDM)that had been “very effective in combating climate change,” he said.

CDM is a scheme under the Kyoto Protocol which allows for emission reduction projects in developing countries to earn carbon credits.

But, he said, that “if the Copenhagen summit fails to reach an agreement or that decisions are delayed, the uncertainties regarding the demand for international carbon credits will increase and this will discourage the development of emission reduction projects under the Kyoto Protocol.”

The capacity-building seminar was organized to prepare all stakeholders on such uncertainties, he said.

The seminar will discuss the current status of the global CDM market and the situation in the Philippines; recent developments regarding an international agreement and outlook beyond 2012; carbon credit demand/supply and price scenarios for the post-2012 period; and project developer’s perspective (Hedging price and regulatory risks. Sell now or later?).

It will also discuss topics on who buys post-2012 carbon credits if Copenhagen fails; how banks assist in CDM project development; and legal considerations in negotiations of ERPAs both pre- and post-2012.

Atienza said executives of public and private entities in the industrial and agricultural sectors, who have an interest in or experience with CDM projects, as well as stakeholders from related fields such as financial institutions, private investors, government agencies and non-government organizations, would benefit from the interactive discussions with experienced carbon market professionals.

Aside from the DENR, the Philippine Designated National Authority (DNA) for CDM as per Executive Order No. 320 issued by President Gloria Macapagal Arroyo, the seminar will be co-hosted by renowned international carbon market players, such as the carbon asset manager First Climate, Philippine Bio Sciences Company, the Land Bank of the Philippines and Norton Rose Group.

The seminar is free of charge, but seats are limited. For further information and on-line registration, please refer to http://emb.gov.ph. (PNA)

RMA/PR

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