3 January 2014

Cameroon: Carbon Market Woes Blunt Prospects for Cameroon CDM Projects

(Page 2 of 2)

"We in Africa need to cushion current CDM efforts - such as integrated bio-gas production in countries like Kenya - from ongoing and future shocks, instead of letting (the CDM) die at a time when it is beginning to function," said Robert Gichange from Kenya at an event organised by the PanAfrican Climate Justice Alliance on the sidelines of the Warsaw conference.

Some representatives of civil society groups said the creation of a special fund to support CDM projects - especially in Africa where they are suffering setbacks after a slow start - was imperative to revive investor interest.

"The private sector needs to be encouraged because this is the prime mover of any economy," said Agustine Njamnshi of the Cameroon branch of the Bioresources Development and Conservation Programme.

FOREST FUNDING

But some environmental experts in Cameroon believe all is not lost.

"Financing of climate change (activities) in developing countries today - be it mitigation or adaptation - has both the approach of carbon markets and that of carbon funds," said Zachee Nzohngandembou of the Centre for the Environment and Rural Transformation, a Cameroonian nongovernmental organisation.

"The Cameroon government, like other developing countries, cannot afford the resources required to encourage low-carbon and climate-resilient development, but they get support in the forestry sector, especially (from) international donor institutions like the European Union and World Bank," he said.

Officials at the ministry of forestry and wildlife also struck a positive note.

"Carbon financing from bilateral and multilateral institutions in the forestry sector constitutes the major source of funding for the fight against climate change in Cameroon," said Koulanya Koutou Danis, secretary-general at the ministry.

Officials point to the Forest Carbon Partnership Facility, a readiness fund that prepares countries in the Congo Basin and elsewhere in the developing world to receive and spend grants and other funding to protect their forests.

Cameroon's application for $1.6 billion was approved by the World Bank at the end of November.

Elias Ntungwe Ngalame is an environmental writer with Cameroon's Eden Group of newspapers.

Ads by Google

Copyright © 2014 AlertNet. All rights reserved. Distributed by AllAfrica Global Media (allAfrica.com). To contact the copyright holder directly for corrections — or for permission to republish or make other authorized use of this material, click here.

AllAfrica publishes around 2,000 reports a day from more than 130 news organizations and over 200 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.