 |
 |
 |
 |
 |
 |
 |
 |
 |
 |
Middle East: New Frontier For Sustainability
Singapore (SPX) Sep 19, 2008 Eight months after world leaders met in Bali to chart the course to a low-carbon world, green initiative like carbon trading are gaining ground in a region long associated with Big Oil. The World Carbon Emission Reduction Summit in Abu Dhabi, unthinkable until recently, now attracts international heavyweights such as the World Bank, UNFCCC and UNEP FI CCWG. "The level of interest we are currently witnessing is very encouraging," says Bjorn Tore Urdal, Senior Equity Analyst (Energy) at Sustainable Asset Management. He predicts, "Undoubtedly, the Middle East will develop itself as a main hub for capital allocation into the low carbon economy." Some even find it surprising these developments did not come earlier. "It is surprising that this relatively gas-rich region has only 1 registered fuel-switch CDM project operating, and 2 with registration pending," says Richard Szudy, President of IDEA-Egypt and Director of PEI-Europe. "The opportunity in this regard is much greater than the current situation." But hurdles remain. The Kyoto Protocol, carbon trading's legal basis, ends in 2012. "The market is awaiting certainty about what happens after 2012," says Darren Gurner, Senior Emissions Broker at TFS Green. "Until then, it's difficult to show that CDM projects are viable with only two or three years of value from carbon credits." Dr. Armin Sandhoevel, CEO of Allianz Climate Solutions, agrees. "The global carbon market depends on a stable, transparent and long-term regulatory framework." There is confidence though, and energy efficiency and renewable energy are key. Neighbours can provide learning points. "In smelters around 70% of energy can be saved by replacing the batch process with continuous process," says D. R. Kulkarni, Senior Vice President (Projects) at H and R Johnson (India). Many smelters are now being built in the Middle East. The World Carbon Emission Reduction Summit, endorsed by UNOPS, is the first global event focusing on low-carbon investment opportunities and carbon finance in the MENA region, to be held from 20th to 23rd October 2008, at Le Royal Meridien Abu Dhabi, United Arab Emirates. Related Links
Lenovo Announces New Program To Encourage Recycling And Renewable Energy Use
Research Triangle Park NC (SPX) Sep 19, 2008Lenovo has announced it has joined international non-profit organization, The Climate Group, and as part of that membership unveiled a comprehensive program that rewards consumers for recycling end-of-life devices, and offers consumers incentives to power new computers with renewable energy. |
|
|
| The content herein, unless otherwise known to be public domain, are Copyright Space.TV Corporation. AFP and UPI Wire Stories are copyright Agence France-Presse and United Press International. ESA Portal Reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space.TV Corp on any Web page published or hosted by Space.TV Corp. Privacy Statement |
