COMESA selects africapractice as strategic partner for workshop to develop carbon facility
Date: 09/05/2008
africapractice, a strategic communications and environmental consulting firm, has been appointed by the Common Market for Eastern and Southern Africa (COMESA) to organise and coordinate a workshop on channelling income from carbon finance for the economic and social benefit of rural communities in East and Southern Africa.
The workshop will bring together policy makers and private sector leaders from COMESA countries as well as international investors and leading carbon experts.
Carbon finance is a form of project finance for countries, companies or individuals wishing to invest in projects that reduce their carbon emissions. The reduction in emissions generated by such projects can then be purchased, sold or traded in the form of carbon credits to governments or companies in industrialised countries that are committed to reducing their carbon emissions or generating additional revenue.
In making the announcement, Chikakula Miti of COMESA said that “africapractice’s work highlighting the attractiveness of Africa as an important investment destination and most importantly for carbon finance made them a natural choice for us when selecting companies to assist us in developing and coordinating a workshop on the subject.�
Commenting on the appointment, Marcus Courage, Managing Director of africapractice said, “This is a great acknowledgment of our expertise in carbon finance. As a company we are committed to the growth of Africa’s carbon sector. We see massive potential in this US$30billion global market, of which Africa has only a 2% share.�
africapractice has extensive experiencing in attracting investment into Africa’s nascent carbon finance sector. The company published the first investment guide on carbon finance in Africa in 2005, organised a conference for African bankers on carbon finance last year and has also set up a website to assist investors in finding carbon finance projects in Africa. This year, africapractice has been active in providing market intelligence and project development services to companies wishing to invest in Africa’s carbon finance sector.
For more information about the workshop please contact
Gregor Pfeifer
gpfeifer@africapractice.com +27 76 977 3062