A World Bank report released in September indicated that the potential for Clean Development Mechanism (CDM) projects in sub-Saharan Africa has been significantly underestimated, evidenced by the fact that the continent only has a 1,4% share of the 3 700 projects in the current United Nations Framework Convention on Climate Change pipeline.

However, a conference will be hosted in Cape Town this month, which will aim to examine the potential for the CDM in Africa.

The second annual Carbon Markets Africa conference will seek to provide a platform for the local and international corporate sector to learn about the latest developments for the CDM in Africa.

The CDM is an arrangement under the Kyoto Protocol allowing industrialised countries with a greenhouse-gas reduction commitment to invest in projects that reduce emissions in developing countries as an alternative to more expensive emission reductions in their own countries.

Essentially, this conference, which forms part of a Global Carbon Markets Series, will offer a platform for CDM project hosts, carbon credit buyers, government representatives, and carbon experts to learn, network and do business.

According to Green Power Conferences, this series is firmly focused on attracting new project hosts and expanding global carbon markets.

Although lagging behind Asia and Latin America in terms of registered CDM projects, the conference organisers argue that African nations are in a position to benefit from the rapid expansion of global carbon markets and the increasing demand for carbon-emission reductions (CERs).

The introduction of programmatic CDM projects should help to attract more investors to African countries as unilateral CDM projects decrease the potential investment risks.

Over 2 700 high-level delegates have attended the Carbon Markets Global Series to date.

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