Carbon market backers see Asia as hub for CDM projects

SINGAPORE – Organizers of the annual gathering of carbon market players on Wednesday predicted an increase in participation and number of projects to be featured in the fourth edition of Carbon Forum Asia this coming October.

This even as world leaders continue to struggle to create a new global framework to replace the Kyoto Protocol to be presented in the UN Climate Change Summit in Copenhagen, Denmark this December. The Kyoto Protocol is the international agreement that sets global standards for greenhouse gas emissions that is set to expire in 2012.

In a pre-event press conference here, the International Emissions Trading Association (IETA) and Koelnmesse said they anticipate a 20 percent increase in participation and a 40 percent increase in the number of projects to be introduced in this year’s Carbon Forum Asia.

Last year’s event drew 109 exhibitors; 60 project developers; more than 100 industry leaders; as well as designated national authorities (DNA) and government officials and a total of over 1, 000 participants from more than 80 countries worldwide.

IETA and Koelnmesse also believe that Asia remains to be “the hub” for clean development Mechanism (CDM) projects.

According to IETA and Koelnmesse, Asia has a 92 percent market share of confirmed transactions in the primary CDM market out of a total transacted value of $126 billion in 2008.

“There had never been a more crucial time for promotions of carbon-cutting projects to study the future,” pointed out Henry Derwent, president and CEO of IETA.  

“With CDM reforms, a new US market, and a whole new chapter opening for Kyoto post-2012, seizing the opportunity that Carbon Forum Asia 2009 provides to meet contacts and hear experts must be on top of every Asian carbon professional agenda,” he also noted.

Carbon Forum Asia Trade Fair and Conference is said to be the “leading platform for emissions trading, carbon abatement solutions and new technologies” in the Asia Pacific.

To further underline the importance of gathering key regional and international players in the carbon market, the UN Framework Convention on Climate Change (UNFCCC) will stage its 8th CDM World DNA Forum in conjunction to this year’s Carbon Forum Asia Trade Fair and Conference.

The CDM World DNA Forum is considered a “key event” in the build-up to the UN Climate Change Summit by the end of this year.

Albert Magalang, co-chairman of the DNA Forum Chairing Committee and Asia-Pacific Regional Representative, UNFCCC, said the DNA Forum aims to provide opportunities for the exchange of views related to CDM and for the sharing of experiences among countries.

“The conduct of the World DNA Forum’s regular meeting this year in parallel with the Carbon Forum Asia 2009 (for the first time) is a unique opportunity, as it will enable the DNAs to broaden this interrelation with the private sector and acquire innumerable knowledge on the state of play of carbon markets and project implementation,” Magalang explained.

“It will allow their interaction to be extended to various project developers and carbon market experts, coming from such a large geographical scope that Carbon Forum Asia manages to bring together each year,” he also said.

Around 150 DNAs from around the world, including country and government representatives responsible for the implementation of CDM projects, are expected to attend the gathering in October.

Carbon Forum Asia 2009 is slated to take place on Oct. 26-27 at the Raffles City Convention Center.