News

UNCCD’s Global Mechanism Advising COMESA on Carbon Finance Platform

Global Mechanism responds to call for cooperation with COMESA

21 July 2008: The Global Mechanism (GM) of the UN Convention

to Combat Desertification (UNCCD) has announced that it has been invited by the

Common Market for Eastern and Southern Africa (COMESA) to join an advisory

group assisting with the development of a Carbon Fund/Facility.

The GM participated in COMESA's Carbon Finance Workshop held

in Johannesburg, South Africa, from 23-24 June 2008. The Workshop sought advice

on the proposed Carbon Finance Platform, which is part of a comprehensive

approach and initiative to promote climate change adaptation and mitigation in

Africa, as well as on the establishment of a COMESA Carbon Finance Facility or

Fund in order to forge the partnerships and mechanisms to attract investors to

purchase carbon offsets from agricultural, forestry and land-use projects. Workshop

participants called for the platform to: support and coordinate Africa's

preparation for the Conference of Parties (COP) to the UN Framework Convention

on Climate Change (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 revise the

proposed Carbon Finance Platform on the basis of the inputs received. Consultations

to define additional areas for GM-COMESA cooperation are underway, including

for enhancing the synergistic implementation of the UNCCD and the UNFCCC 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 the climate change negotiations. [Global

Mechanism News Release]