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7 – Co2 money: paying to pollute?
Best Practices so that compensation for CO2 emissions may better help reduce greenhouse gases and stimulate green investment.
Finance is starting to play a major role in the commitment of enterprises against global warming. Current or forthcoming constraints in terms of CO2 emissions have given rise to the creation of real markets, notably in Japan, Canada, Australia, the United States and particularly Europe, where enterprises subject to CO2 emission quotas can exchange among one another.
Another major market: the "Clean Development Mechanism" (CDM) allows enterprises in developed countries to obtain "carbon credits" by financing greenhouse gas emission reduction programmes in
developing countries.
Indeed, one may argue that simply paying is not sufficient to save the planet. But in the current state of affairs, these quota or compensation markets deserve to be considered as "Good Practices"
in respect of environment protection.
Rainer DÜRTH - Vice President - KfW Bankengruppe Carbon Fund (Germany)
Rainer Dürth is a graduate engineer and economist. He joined KfW, the first German bank in favour of the environment, in 1995. He has a great depth of experience in financial cooperation with developing countries, mainly through power projects in Asia.
He is now Vice President of KfW Carbon Fund, a project-based purchase programme to get carbon offsets in the framework of the Kyoto Protocol. 22 million tons of CO2 have been bought through some 50 offset schemes.
Download his Powerpoint presentation: Powerpoint Rainer DURTH
Emmanuel LEGRAND - Senior Investment Manager - CDC Climat (France)
Emmanuel Legrand is an engineer from Supelec and holds a MBA from Audencia. After 15 years in the Internet industry, he joined Caisse des depots to help French local authorities to develop innovative Internet projects. In June 2009, he was nominated Senior Investment Manager at CDC Climat, where he now leads the European funds activities.
Download his Powerpoint presentation: Powerpoint Emmanuel LEGRAND
Moustapha Kamal GUEYE - Economic Affairs Officer Economics and Trade Branch, Division of Technology, Industry and Economics, United Nations Environment Programme
The UNEP-led Green Economy Initiative assists governments in shaping and focusing policies, investments and spending towards a range of green sectors, such as clean technologies, industry, renewable energies, water services, transport, waste management, green buildings, and sustainable agriculture and forests, as a means of promoting sustainable economic growth, decent job creation, and poverty reduction, while at the same time reducing greenhouse gas emissions, extracting and using less natural resources and creating less waste.
From 2006 to early 2009 Kamal served as Senior Programme Manager – Environment Cluster at the International Centre for Trade and Sustainable Development (ICTSD) in Geneva. Previously, he worked and researched for over ten years across Asia, managing policy research projects on energy and environment in China and India at the Institute for Global Environmental Strategies (IGES) in Japan. From 1994-1995, he consulted for the FAO on fisheries law and policy in Africa.
Download his Powerpoint presentation: Powerpoint Mustapha Kamal GUEYE
