CEF Carbon, Central Energy Fund’s carbon trading subsidiary, has partnered with GreenStream Networks to establish CarbonStream Africa – a “carbon hub” offering clean development mechanism (CDM) solutions to African companies.
Located in South Africa, the hub will be an advisory company that delivers comprehensive solutions and services for emission reduction projects. CarbonStream will help project developers in Africa through the entire process – from inception to the sale of carbon credits.
“Although lagging behind Asia and Latin America in terms of registered CDM projects, African nations are in a position to benefit from the rapid expansion of the global carbon markets and the increasing demand for Carbon Emission Reductions,” said CEF Carbon CEO Deven Pillay.
“Our experts will create value for our clients at every stage of the CDM or JI project process. We focus on high quality in the entire project management cycle and our multicultural team of experts ensures excellence in project execution,” he added.
“Norway and the Nordic countries have for a long time had a close cooperation with South Africa on energy-related issues, and this joint venture is a fruit of that long-term relationship,” said GreenStream Network CEO Arne Jakobsen.
South Africa has been slow in taking advantage of the opportunities in carbon trading, and CEF Carbon previously indicated that carbon credit projects in the pipeline could earn South Africa revenue in the region of R900 million.