CO2 hysteria/fraud may cause several billion dollars to be misallocated in Africa

DAKAR, Sénégal, September 4, 2008/African Press Organization (APO)/ — To help Africa obtain its fair share of emission reduction projects under the Kyoto Protocol’s Clean Development Mechanism (CDM) and satisfy growing carbon market interest on the continent, partner international agencies and the International Emissions Trading Association (IETA) on Wednesday launched the first all Africa Carbon Forum in Senegal, under the umbrella of the Nairobi Framework.
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The Nairobi Framework was launched in November 2006 to spread the benefits of the CDM, especially in Africa. Several projects have been launched in Africa, but the continent still accounts for just 27 of the more than 1150 CDM projects now registered in 49 developing countries. That said, the number of projects in Africa is growing, and the projects already in place are expected to stimulate several billion dollars worth of capital investment.

Yvo de Boer, Executive Secretary of the United Nations Framework Convention on Climate Change (UNFCCC) and the UN’s top climate change official, was in Dakar to open the forum and expressed his satisfaction with the work to date.

“Combating climate change will take political will, and it will take a great deal of investment. Mechanisms like the CDM are an important means to stimulate that investment, so it’s good to see that Africa is now getting the attention it deserves from the private sector and public sector through events like the Africa Carbon Forum,” Mr. de Boer said.