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News - Africa and Latin America

31 Jan 12 01:30
VCS approves first soil carbon offset program

A World Bank-designed program to cut farming emissions in Africa using carbon markets got final approval under the Verified Carbon Standard (VCS) on Monday, enabling those projects to start issuing carbon credits.

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30 Jan 12 14:28
Shell buys 322,000 CERs from Ugandan scheme

The trading arm of Royal Dutch Shell has signed a forward contract to buy 322,000 U.N.-backed carbon credits from a Clean Development Mechanism (CDM) project in Uganda at an undisclosed price.

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05 Jan 12 18:56
French firms to buy carbon offsets from Tunisian wind project

CDC Climat, a unit of French state-owned bank Caisse des Depots, has agreed to buy carbon credits from a Tunisian wind power project in a deal which will see half the offsets go to project developer Orbeo, the companies said Thursday.

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19 Dec 11 20:49
Guyana forest carbon plan struggles to get off paper

After decades of depending on bauxite, timber and gold for revenue, Guyana proposed five years ago that wealthy foreigners pay it to protect its tropical South American rainforests.

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19 Dec 11 20:28
Rio de Janeiro to set up carbon trading exchange

Rio de Janeiro state will set up Brazil's first carbon exchange on Tuesday that beginning in 2013 will allow businesses to trade credits to comply with mandatory pollution limits Rio plans to introduce in 2012, the state's environment department said on Monday.

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08 Dec 11 18:59
Support builds for EU climate deal as alliances emerge

The U.S., Canada and the world’s poorest nations on Thursday appeared to back an EU plan to secure a global legal pact to cut emissions amid some unlikely alliances, but delegates said there was a chance talks could still fail as the deadline and legal form of the treaty has still to be reached.

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08 Dec 11 18:31
Nordic nations to pilot new climate mechanism in poor countries

Nordic countries on Thursday announced they would launch projects in Peru and Vietnam next year which they said could pilot a new market-based mechanism to cut carbon emissions in poor countries.

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07 Dec 11 16:00
S.Africa to flip switch on inefficient light bulbs by 2016

South Africa will phase out incandescent light bulbs by 2016, joining an international push towards efficient lighting that the initiative’s partners say could cut global CO2 emissions by 670 million tonnes annually.

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07 Dec 11 05:24
Brazil's Senate approves farm land overhaul

Brazil's Senate passed a landmark reform of the country's land law on Tuesday, infuriating environmentalists who say it could spark a new wave of deforestation in the Amazon region.

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06 Dec 11 16:02
CORRECTED: World Bank to ready new carbon funds by mid-2012

The World Bank said Tuesday it will start to funnel cash towards two of its newest carbon funds by the middle of next year, in a bid to boost the number of credits sourced from the world’s poorest countries.

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06 Dec 11 13:31
Amazon forest loss at lowest in 23 years- Brazil

Deforestation in Brazil's Amazon region fell to its lowest in 23 years in the year through July, the government said on Monday, attributing the drop to its tougher stance against illegal logging.

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03 Dec 11 16:57
U.N. launches independent panel for CDM review

The U.N. on Saturday named the first members of an independent panel tasked with gathering feedback on the Clean Development Mechanism (CDM), to ensure the 10-year old offset scheme is ready and well-positioned to meet the needs of future carbon markets.

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02 Dec 11 16:29
Forest-based carbon market harming indigenous rights: report

Market-based projects that aim to combat deforestation in developing nations have undermined the rights of indigenous people and have prompted land conflicts in countries such as Peru, said a report released at U.N climate talks on Wednesday.

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02 Dec 11 00:38
INTERVIEW: Rio de Janeiro to launch ETS by 2015, eyes links

Rio de Janeiro, Brazil’s second richest state, will launch an emissions trading scheme for its biggest carbon emitters between 2013 and 2015, which it hopes can serve as a model for other states and form the basis for a national carbon market, a state government official said.

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01 Dec 11 18:21
Venezuela ties CDM future to Kyoto caps, delays reform talks

U.N. talks on reforming the world's biggest carbon offset market were held up on Thursday after Venezuela insisted on debating who should have access to the Clean Development Mechanism (CDM) against the backdrop of discussions over the future of the Kyoto Protocol.

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30 Nov 11 16:41
Fast-start climate finance on track, but GCF progress stalls in Durban

Developed nations have committed $29.2 billion in short-term climate financing for poor countries and are on track to meet an end-2012 target, the donors said at a U.N. climate summit this week.

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28 Nov 11 23:26
CAR releases Mexican forest CO2 protocol, eyes California ETS

The Climate Action Reserve (CAR) has begun a public comment period for a forest carbon offset protocol for Mexican projects that could make those credits usable in California’s cap-and-trade scheme and other global markets.

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25 Nov 11 20:57
ICE bans CERs from 2 Cuban projects amid embargo fears

ICE, one of the world’s biggest exchanges, will refuse to handle U.N.-backed carbon offsets generated in Cuba after concerns were raised by companies concerned about U.S. trade embargoes, the Atlanta-headquartered bourse said on Friday.

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25 Nov 11 18:06
S Africa's Eskom eyes region for power, to cut CO2

South Africa's state-owned power utility Eskom wants to greatly expand its grid beyond its borders, bringing energy security to fast emerging southern Africa by building lines and plants and tapping the region's vast green energy sources.

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25 Nov 11 12:11
CF Partners buys 10 mln CERs from Ecuador hydro project

UK-based trading and advisory firm CF Partners has agreed to buy 10 million U.N.-backed offsets over the next seven years from a hydro project in Ecuador, the biggest carbon deal concluded so far in the Latin American country.

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25 Nov 11 11:35
SocGen sells Orbeo stake to Solvay

French bank Societe Generale has sold its 50 percent stake in carbon trading firm Orbeo to chemical maker Solvay, the firms said on Friday, with both assuring clients they will remain in the beleaguered EU and UN carbon markets.

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24 Nov 11 16:01
Japan says offset scheme seeks to plug CDM gaps

Japan’s bilateral offset mechanism will focus on regions and sectors, such as Africa and transport, that have been neglected by the U.N.’s Clean Development Mechanism ministry groups said this week.

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24 Nov 11 12:48
South Africa sets up 24-hour courts for U.N. summit

Special courts on standby around the clock are being set up across South Africa to deal with crimes relating to a U.N. climate conference that kicks off next week, local media has reported.

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24 Nov 11 09:45
Brazil's Elejor to auction 230,000 CERs

Hydroelectric power producer Elejor announced Tuesday it will auction 229,464 U.N.-issued carbon offsets on November 25 from two hydro projects in the southern Brazilian state of Parana.

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22 Nov 11 18:41
ANALYSIS: Spotlight shines on African carbon projects ahead of Durban

This year’s climate change summit will shine a spotlight on the role the carbon market can play in Africa, but there is plenty of work to be done before the world’s poorest continent can reap rewards from the U.N.’s Clean Development Mechanism (CDM).

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18 Nov 11 16:48
Reforms could yield 35 mln CERs from poorest countries: report

U.N.-backed cleaner energy projects in the world’s poorest countries are likely to earn up to 35 million credits a year if rules governing projects are changed, according to a report commissioned by the UK government.

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16 Nov 11 19:27
Vitol in 45 mln euro African CO2 deal

The world's biggest carbon credit supplier Vitol has agreed to buy 7 million credits over seven years from a cookstove initiative in Burundi for 45 million euros ($60.8 million), the second such deal inked by the Swiss-based energy trader this year.

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16 Nov 11 12:14
ANALYSIS: Troubled South Africa diplomacy could doom climate talks

A United Nations climate change summit, which already promises only modest steps for cutting greenhouse gas pollution, could be in more trouble unless host South Africa sharpens up its international image.

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08 Nov 11 10:49
S.African industry questions climate change plan

South Africa's Chamber of Mines and petrochemicals group Sasol on Tuesday expressed reservations about the country's main climate policy paper, with industry-specific reduction targets a key concern.

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02 Nov 11 16:43
Standard Bank inks deal with 1st Zimbabwe CDM project

Standard Bank Group will buy around 3.4 million Certified Emissions Reductions (CERs) from a nitric acid N2O project in Zimbabwe, the first carbon-cutting initiative to seek U.N. approval in the politically unstable African nation.

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