Today Online 27 Oct 09;
SINGAPORE - More than 90 Designated National Authorities (DNA) representatives from around the world are here for three days to share views and experiences on the clean development mechanism (CDM).
Under the Kyoto Protocol, the mechanism allows greenhouse gas emission reductions from projects implemented in some countries like Singapore, to be used to offset emissions of developed countries such as Japan and the European Union.
CDM projects in Singapore can apply to the United Nations for emission reduction credits which are tradable. And currently, one CDM project here has been successfully registered: A Thermal Energy Recovery plant by Bee Joo Industries, together with The Kansai Electric Power Company, Japan.
The UN's CDM executive board is assessing six other Singapore CDM projects. To encourage local companies to develop such projects, the National Environment Agency (NEA) provides a CDM Documentation Grant of up to 50 per cent of the qualifying costs - or up to $100,000 - to develop the documentation needed.
As Singapore's DNA, the NEA will support with a Letter of Approval the registration of a project that meets the Republic's sustainable development criteria.
The UN has estimated that CDM projects can potentially achieve worldwide emission reductions of more than one billion tonnes by the end of 2012.
The DNA Forum here will, for the first time, include a full day dedicated to networking and exchanges with the private sector.
The NEA will share information about the potential of carbon dioxide reduction from improving energy efficiency in the buildings sector, for example.
Under the blueprint for Singapore's sustainable development, Singapore aims to achieve 35-per-cent reduction in energy intensity (consumption per dollar GDP) in 2030, from 2005 levels.
