Hanoi Times – A seminar to introduce technological and financial solutions for Clean Development Mechanism (CDM) projects that aim to reduce greenhouse gas emissions was held in HCM City yesterday.
Hanoi Times – A seminar to introduce technological and financial solutions for Clean Development Mechanism (CDM) projects that aim to reduce greenhouse gas emissions was held in HCM City yesterday.
The seminar was held by a mission from the UK's Climate Change Projects Office and the Southern office of Vietnam's Ministry of Science and Technology.
Jed Jones, head of the UK trade mission, said the demand had grown significantly over the last year for CDM projects that reduce greenhouse gas emissions, contribute to sustainable development, and result in the generation of tradable carbon credits under the Kyoto protocol.
The global carbon market is estimated to be worth US$ 30 billion per year and the number of registered CDM projects is over 850.
He said currently the market is largely driven by the demand within the EU Emissions Trading Scheme launched in 2005.
This demand from participants in this scheme has been a major stimulus to the growth in the number of projects in the CDM.
"We believe the countries on this mission offer excellent opportunities for the CDM across a wide range of industrial sectors and the UK companies on the mission are keen to develop long-term business partnerships with local companies that have potential projects to develop," Jones aid.
Jones said participation includes projects in most CDM sectors - from the small-scale renewable to projects delivering the largest annual emission reductions.
Jones said UK companies were urgently looking for further CDM projects to invest in and the response to the trade mission confirms the potential for CDM in Vietnam.
The UK mission visiting Vietnam includes legal advisors, project developers, investment fund managers, brokers and climate change service providers.
A similar seminar was held in Hanoi on Monday.
