Canada Demonstrates Commitment to UN Clean Development Mechanism
NUSA DUA, BALI, Indonesia ,December 13, 2007 – Canada’s Environment Minister, John Baird, announced today that the Government of Canada will contribute US $1.5 million to the Clean Development Mechanism (CDM). This mechanism allows the private sector earn emissions reduction credits when investing in climate-friendly projects in developing countries.”Canada is once again showing the world that it is serious about the fight against climate change,” said Minister Baird. “This contribution will go a long way towards strengthening this mechanism and making it easier for all countries to be part of global emission-reducing projects.”
“This mechanism makes Canadian companies and others more competitive by providing access to new markets and business opportunities, at the same time helping reduce global emissions,” added the Honourable Maxime Bernier, Minister of Foreign Affairs, from Ottawa.
The Clean Development Mechanism has been described as a win-win because it provides the opportunity for both developing and developed countries to benefit. Projects funded under this mechanism can benefit developed countries by generating quality credits for projects that help developing countries reduce greenhouse gases and encourage sustainable development.
The Department of Foreign Affairs manages the Canadian CDM office. Companies which wish to implement emissions-reducing projects must show that the reduction in emissions would not have happened without the incentive provided by emissions credits.
Related Document: The United Nations Clean Development Mechanism
For more information, please contact:
Office of the Minister of the Environment
In Indonesia: 085857032508
In Indonesia: Gregory Jack