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The State-owned Central Energy Fund (CEF) is to launch its International Carbon Markets Business on Wednesday evening.
The CEF has established the division to trade carbon credits on the international markets in order to encourage projects that alleviate greenhouse gas emissions.
"The strategy is to offer a one-stop shop for developers of carbon projects, a service which is currently not offered by any South African company," the CEF said.
Carbon trading is governed by the Clean Development Mechanism (CDM), which was created by the Kyoto Protocol, a UN agreement, which aims to reduce the emission of greenhouse gases that lead to global warming, between the years 2008 to 2012.
South Africa established a designated national authority, in 2004, to fulfil functions related to the successful implementation of the CDM in the country.
The CDM enables industrialised countries with emission-reduction commitments to meet part of their commitments by investing in projects, in developing countries, that reduce greenhouse-gas emissions and contribute to the sustainable development needs of the local country.
News date: 10/10/2007