The African Carbon Asset Development (ACAD) facility announced plans to expand, pushing the carbon market initiative to support at least 20 more projects within the continent by 2013.
The ACAD helps carbon projects approved by the UNEP, and has launched a new call for projects as well as financial partners. Sylvie Lemmet, Director of UNEP’s Division of Technology, Industry and Economics, said: “We are thrilled to have helped not only bring good projects to fruition, but also to have supported the African financial sector evaluate the potential of innovative carbon projects. These latest developments suggest a strong vote of confidence in ACAD and signal Africa’s emergence as a fully-fledged carbon market player.”
ACAD is Africa’s first project development support facility dedicated to increasing carbon project deal-flow, while the UNEP Risoe Centre on Energy, Climate, and Sustainable Development is leading UNEP activities related to carbon finance and the Clean Development Mechanism (CDM).
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