On 28th of December the U.N. issued the first ever carbon credits to a programmatic CDM project, paving the way for offset supply from schemes once seen as pivotal in getting carbon finance to the world’s poorest regions.
Australian developer Cool NRG’s Cuidemos programme to install millions of energy efficient lightbulbs across Mexico received 19,241 Certified Emission Reductions (CERs) for emission reductions made over Dec. 2009 to Nov 2010, according to the UNFCCC website.
The issuance was the first award under the U.N.’s Clean Development Mechanism (CDM) to a programme of activity, a type of project designed to make smaller emission cutting initiatives cheaper to fund by grouping together multiple efforts.
Cuidemos, the first CDM programme to be registered by the U.N. in July 2009, first applied for credits in April 2011 but was forced to re-apply after U.N. regulators demanded more proof that emission reductions had taken place.
Cool nrg Chairman, Nic Frances, said, “We are very excited to have delivered the world’s first CERs from a Programme of Activities. Cool nrg is committed to delivering projects that are innovative, reduce CO2 and help communities. Our CUIDEMOS project meets all those goals. The amount of CO2 reduction associated with this issuance is equivalent to planting more than 100,000 trees, and 98% of the light bulbs went to families in the three poorest demographic sectors.”
CUIDEMOS is a project owned and driven by Australian company Cool nrg International, and conducted in conjunction with the Mexican Government, Philips Lighting, and ING, with Eneco Energy Trade being the CER purchaser.
“We congratulate Cool nrg and the programme partners on passing this important milestone in the development of the CUIDEMOS programme. ING is proud to have been the project loan provider for the first project. The successful CER issuance proves the operating model for Programmes of Activities and is a tribute to the vision, pioneering spirit and perseverance of the Cool nrg team“ Stephen Hibbert, Global Head of Carbon, ING.
Similarly enthusiastic, Mark Meyrick, head of Eneco’s Carbon Desk, said ‘Eneco is really happy to be the buyer of such unique credits from this ground breaking project”.
Source: Point Carbon, Carbon Desk EET