Canada demonstrates commitment to UN Clean Development Mechanism



    NUSA DUA, BALI, Indonesia, Dec. 13 /CNW Telbec/ - Canada's Environment
Minister, John Baird, announced today that the Government of Canada will
contribute US $1.5 million to the Clean Development Mechanism (CDM). This
mechanism allows the private sector earn emissions reduction credits when
investing in climate-friendly projects in developing countries.
    "Canada is once again showing the world that it is serious about the
fight against climate change," said Minister Baird. "This contribution will go
a long way towards strengthening this mechanism and making it easier for all
countries to be part of global emission-reducing projects."
    "This mechanism makes Canadian companies and others more competitive by
providing access to new markets and business opportunities, at the same time
helping reduce global emissions," added the Honourable Maxime Bernier,
Minister of Foreign Affairs, from Ottawa.
    The Clean Development Mechanism has been described as a win-win because
it provides the opportunity for both developing and developed countries to
benefit. Projects funded under this mechanism can benefit developed countries
by generating quality credits for projects that help developing countries
reduce greenhouse gases and encourage sustainable development.
    The Department of Foreign Affairs manages the Canadian CDM office.
Companies which wish to implement emissions-reducing projects must show that
the reduction in emissions would not have happened without the incentive
provided by emissions credits.

    
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                              BACKGROUNDER
    ------------------------------------------------------------------------

               THE UNITED NATIONS CLEAN DEVELOPMENT MECHANISM

    Earlier today, Canada's Environment Minister, John Baird, announced a
contribution of $1.5 million (US) to the United Nations Clean Development
Mechanism (CDM).
    The CDM is an arrangement under the United Nations Framework Convention on
Climate Change which allows developed countries to meet their emissions
reductions targets through investments in projects that meet specific
criteria. They must be:

    - undertaken in a developing country;
    - generate reductions in greenhouse gas emissions;
    - contribute to the host developing country's sustainable development;
      and
    - be eligible for emission reduction credits.

    Companies which invest in CDM projects earn credits that can be used to
contribute to their emission reduction commitments. An advantage for industry
is that global greenhouse gas emissions can be reduced more cheaply as the
costs of reducing emissions in developing countries are generally lower than
in industrialized countries.
    Companies which wish to implement emissions-reducing projects must show
that the reduction in emissions would not have happened without the incentive
provided by emissions credits.
    The Executive Board of the CDM ensures that projects meet the required
criteria by carrying out evaluations under the rules determined by the
Conference of the Parties of the United Nations Framework Convention on
Climate Change.
    More information can be found at:
    http://unfccc.int/kyoto_protocol/mechanisms/items/2998.php
    




For further information:

For further information: Eric Richer, Press Secretary, Office of the
Minister of the Environment, (819) 997-1441, In Indonesia: 085857032508;
Environment Canada, Media Relations, (819) 934-8008, 1-888-908-8008, In
Indonesia: Gregory Jack, 085857032502


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