GM responds to call for cooperation with COMESA
21 July, 2008
The Global Mechanism (GM) participated in the Common Market for East and Southern Africa (COMESA) Carbon Finance Workshop in Johannesburg, South Africa from 23 to 24 June, 2008. The Workshop was organized by the Secretariat of the COMESA in co-operation with key development partners including experts on carbon finance, participants from core Government ministries, bilateral and multilateral development partners, civil society organizations, and the private sector.
COMESA’s primary aim was to seek advice on its proposed Carbon Finance Platform that is part of a comprehensive approach and initiative to promote climate change adaptation and mitigation in Africa.
Another issue discussed was the establishment of a COMESA Carbon Finance Facility or Fund in order to forge the partnerships and mechanisms needed to attract investors to purchase carbon offsets from agricultural, forestry and land-use projects. It is hoped that this will provide the critical financial support needed to make such projects feasible and will ultimately channel income to local communities.
The GM made substantive contributions to the workshop by providing advice on the proposed Carbon Finance Platform and specifically the need for the platform to:
- facilitate African countries in optimizing financing opportunities through the synergies between United Nations Framework Convention on Climate Change (UNFCCC) and the United Nations Convention to Combat Desertification (UNCCD);
- emphasize the importance of broader capacity building in terms of understanding the various current and emerging climate change financing mechanisms; and
- link the platform to comprehensive national financing strategies and investment frameworks at country and regional levels.
Workshop participants commended the COMESA Climate Initiative and made substantial contributions to the discussions, including a call for the platform to:
- support and coordinate Africa’s preparation for the Conference of Parties (COP) to the UNFCCC in Copenhagen, Denmark, in 2009;
- construct a model Carbon Fund or Facility that will support both project development and ensure equity for both sellers and buyers; and
- develop criteria to facilitate the screening of potential projects for the Carbon Fund.
COMESA will now revise the proposed Carbon Finance Platform on the basis of the inputs received. The GM has been invited by COMESA to join a core advisory group assisting with the development of the Carbon Fund/facility and consultations are underway to define other areas of co-operation. One such area will be enhancing the synergistic implementation of UNCCD and the United Nations Framework Convention on Climate Change (UNFCCC). This will be achieved through joint analytical work and policy dialogue to better position UNCCD related issues (e.g. Agriculture, Forestry and Other Land Uses (AFOLU), Reduced Emissions from Deforestation and Degradation (REDD), and dryland forests) within climate change negotiations.
Ms Elsie Attafuah, Programme Officer, East and Southern Africa
Tel. +39 06 5459 2577
e.attafuah (at) global-mechanism.org
Related Links
The GM's East and Southern Africa Programme