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Carbon trading is key to Africa's economic future
With the help of Envirotrade, a company helping rural African communities generate carbon credits, Africa will be able to earn billions of dollars that developed countries have been collecting for years. As the continent contributing the least to climate change yet suffering the majority of its effects, Envirotrade aims to gain the finances the continent is due.
Generating carbon credits through changes in the ways African farmers use their land, Envirotrade is assisting in the sale of those credits in global carbon markets. Carbon credits are sold to companies and individuals seeking to offset their carbon footprints, both nationally and internationally.
Mark Heaton, Envirotrade's South African country manager, told MediaGlobal, "Envirotrade offsets are from forestry, which currently does not form part of the CDM (Clean Development Mechanism) under the Kyoto Protocol. However, credits can be generated from a number of areas, particularly in the energy and greenhouse gas emission reduction spheres which are tradable as part of CDM."
Beginning their initiative in Mozambique, Heaton said the results have been positive thus far. "Very successful in terms of the protection of existing forests, planting of new trees, and changing of community attitudes towards their environment," he said.
"We have also brought a new and sustainable form of income to a previously impoverished community." As far as Envirotrade goes, Heaton noted, "We hope to benefit financially from sharing in the carbon revenues achieved from sales of the carbon offset credits. To date, however, in terms of our agreement with the community, 100 percent of the revenues have gone back into the local project and community trust fund."
Article published courtesy of MediaGlobal.org
