Discussions on carbon market and GHG make headway

(La Paz, October 2, 2006).- With the objective of generating a space for discussion and preparation of the technical teams of the climate change offices of Latin America and the Caribbean, the Andean Development Corporation organized the "Preparative Workshop for the Twelfth Conference (CoP12) and the Second Meeting of the Parties (MoP2)," events to be held on October 2 and 3 in Santa Cruz, with the participation of authorities from CAF and Bolivia, as well as 24 government representatives from the countries of the region.

CAF will cooperate with the Latin American and Caribbean countries in holding preparatory meetings for the Conference of the Parties to the Climate Change Convention (COP) to assist them with generating strategies to strengthen, articulate and integrate their position on the climate change negotiations. The meetings are also aimed at optimizing and increasing the competitiveness of the countries in relation to the carbon market and greenhouse gases (GHGs).

Through its Latin American Carbon Program (PLAC), CAF has been one of the pioneering institutions in the development of the market for GHG reduction credits in the region. One of PLAC’s main functions is to assist public and private organizations in the region with the identification, preparation and execution of investment projects with potential to generate GHG Emission Reduction Certificates (ERCs) so they can take advantage of the opportunities under the international agreements on GHG reduction, such as the Kyoto Protocol.

The workshop will be opened by CAF representative in Bolivia José Carrera, and Vice Minister of Land Planning and Environment Jhon Vargas. Also present at the international event will be CAF environment director María Teresa Szauer, and representatives of the climate change offices of Argentina, Bolivia, Brazil, Colombia, Costa Rica, Ecuador, Mexico, Nicaragua, Panama, Paraguay, Peru, Dominican Republic and Uruguay.