Carbon offsets in exchange for light bulbs, COP 15
Release Date: 2009-07-21
The UN has given its in-principle approval of a new type of carbon offset program designed to bring carbon reductions to the mass market in developing nations.Energy efficiency project developer Cool nrg International has designed a new project that would educate a third world population, reduce CO2 emissions and generate money, all at the same time.
By giving away 30 million compact fluorescent light bulbs to the citizens of Mexico the national electricity demand of this country will be significantly reduced, and individual households will save money on their electricity bills. The company will earn its share by selling up to 7.5 million UN carbon offsets called Certified Emission Reductions, or CERs under the UN's Clean Development Mechanism (CDM).
Each offset represents the equivalent of one ton CO2, that a Dutch firm, Eneco Energy Trade B.V. has already agreed to buy. Spot CERs traded at around 12.95 Euros a ton on Monday, Reuters reports.
According to Reuters, the panel that oversees the running of the Clean Development Mechanism has given its in-principle approval of the new project at a meeting last week.
The CDM aims to assist developing countries in achieving sustainable development and to assist developed countries in achieving their emission limitations and reductions under the Kyoto Protocol.
The compact fluorescent light bulbs will be distributed in phases over the next two to three years. The distribution points will typically be provided by Cool nrg’s retail partners, who have a network of approximately 3,550 outlets across Mexico.
Residents will come to these distribution points with their old incandescent bulbs and exchange them for compact fluorescent light bulbs with equivalent or greater lumen output. Incandescent bulbs collected during the exchange will be destroyed to prevent leakage. This process will be independently verified, according to the general description of the program.
| Type: | NORMAL |
| Company: | COP 15 |
| Country: | Denmark |
| Url: | http://www.vonardenne.biz/content/eng/84.htm |