Seminar on climate change and business opportunities

THE CEYLON Chamber of Commerce in association with Ernst & Young Sri Lanka will hold a seminar to raise awareness on business opportunities created by global climate change.

The seminar will be held tomorrow from 2.00 p.m. to 6.40 p.m. On-Golden-Pond Hotel Taj Samudra, Colombo. Recent concern over the impact of Greenhouse gas emissions on the climate has led to international action and political intervention to control climate change.

The Clean Development Mechanism (CDM) established by the Kyoto Protocol is an arrangement where developed countries with legally binding emission reduction targets, invest in emission reduction projects in developing countries to offset their carbon emissions.

This mechanism helps developed countries to achieve their emissions reduction targets at a reduced cost, while promoting sustainable development in developing countries.

The expected average annual Carbon Emissions Reductions (CERs) from registered projects are 135 million units globally.

In India, about 255 CDM projects have been registered with the United Nations Framework on Climate Change, while about 114 Companies have issued CERs.

The seminar will feature presentations on the CDM process, the CDM status in India and globally, CDM project identification and case studies as well as the carbon market.

It will also focus on the CDM strategy of the Sri Lankan Government, the Carbon Fund, the current status of CDM in Sri Lanka and the regulatory framework -the presentations on which will be delivered by key Government officials involved in the CDM process.