2 December 2011 UNEP and Standard Bank hosted a side event on showcasing successful carbon investment projects underway in Africa that have been supported by the African Carbon Asset Development (ACAD) Facility. Attended by some 30 developers, investors, and local experts, the interactive dialogue allowed for sharing practical lessons learned by ACAD’s partners (UNEP and its Risoe Center, Standard Bank, and the German Environment Ministry) and beneficiaries (green entrepreneurs) on how to make carbon finance work for Africa.
Alex Berger, Director of AAP Carbon, explained how a groundbreaking technology which can generate heat and electric power from waste gases from ferrochrome smelting had been piloted with a financing plan including carbon credit revenue. Kevin Fruin, a South African small business owner, highlighted the big scope of opportunity for mainstreaming energy efficient brick production off the ground in the country.
Silke Kaercher and the panel discuss the event
The session also provided some 30 participants an opportunity to learn more about how to benefit from ACAD’s grant making and training activities.
The partnership addresses key barriers that have hindered greater uptake of carbon projects in Africa, providing a package of technical assistance, seed capital, and specialized advisory services to both green entrepreneurs and banks across Africa. A video-documentary on ACAD and its project successes, launched at COP-17, was also screened.