Stimulate new energy investments in developing countries, simplified CDM project financing
the United Nations “climate debt” concept
in order to stimulate investment in clean energy projects in developing countries, the United Nations are considering encourages a new climate bonds issued by these countries.
the United Nations Framework Convention on climate change (UNFCCC) yiwo·deboaier, Executive Secretary of the secretariat said that the so-called climate bonds, primarily in Africa, Asia and Latin America issued to investors in developing countries, the case of security financial project aims to reduce greenhouse gas emissions by sources of project financing. Deboaier said that maturity can be used to exchange for a certain amount of greenhouse gas after carbon credits.
the United Nations runs the world’s second-largest greenhouse gas credit markets, the market value of about us $ 183 billion last year. Climate notes programme will contribute to the simplification of wind and solar project financing procedures, since the bonds you can combine many clean energy projects.
“this (climate bonds) program allows market participants to intervene, but you don’t have to step in to the core of the project,” deboaier said that it would “create the conditions for public and private funding invested.”
deboaier, said he hasn’t informed the plan to any country and investors. He said issuing the bonds to raise money, also depend on the end of next year in Denmark Copenhagen climate negotiations can achieve effective results, whether reasonable targets and reach agreement on a new climate to replace expiring in 2012 of the Kyoto Protocol to the Convention.
according to current United Nations system, which is outside known as clean development mechanism (CDM), the investor must make a choice in the hundreds of CDM projects. Norway reports for a survey company, certified carbon emission rights trading volumes of the United Nations last year grew 3 times.
because it is hoped that with minimal investment to get the largest possible number of emission rights, deboaier said, according to official website of the UNFCCC information in over more than 1000 registered CDM projects, more than half are in China and India, both countries benefited most countries in the CDM project. China has already received huge investments in low carbon technologies, the United Nations last year in certification of CDM projects under the Kyoto Protocol, 73% located in China, Brazil and India each receive 6%, only 5% are located in Africa.
Fortis Group Netherlands ailike·Boman, head of environmental markets believes that climate bonds are a very good idea, can reduce costs for investors, “developing countries will complete cocktail dresses evening wear all of the work on the project,” rather than making potential investors – as they do now, individual study, manipulate small items.
deboaier said the bonds will be issued as a strong backing for the Government, once expired, investors will be carbon emission rights.
“very clear, UNFCCC is using all may of reform to break currently encountered of resistance and bottlenecks, efforts makes next year of Copenhagen negotiations does not became no results, and was disappointed of negotiations,” World Economic Forum environment project of main head duominike·wohalei in London accept interview Shi said, “also has many similar bond such of reform needs people to promoting, last May will brings was unexpected of effect. ”
deboaier said that climate bonds issued would contribute to the raising of funds for the development of renewable energy projects in developing countries, is a very good chance,” no matter what advanced industrial countries reached agreement, the participation of developing countries was essential. “(Cheng Yuan)