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The Environmental Protection Department today (July 21) held the Clean Development Mechanism (CDM) Capacity Building Seminar to introduce to relevant enterprises the CDM developments in China, including Hong Kong.
A spokesman for EPD said that to tackle the challenge of climate change, Hong Kong was committed to working with other areas and cities of the world to reduce carbon emission.
¡§The Government will work with all sectors of the community and put forward measures to promote energy efficiency and reduce reliance on fossil fuels to transform Hong Kong into a low carbon economy based on low energy consumption and low pollution,¡¨ he said.
¡§Hong Kong enterprises can develop CDM by tapping the advantages of our environmental protection industry and additional capitals and technology from overseas to invest in low carbon energy projects and production processes that are more environment-friendly and energy-saving.¡¨
¡§These can help Hong Kong enterprises utilise our potential by developing a green and low carbon economy. On the other hand, as part of our efforts to tackle climate change, we can work with other countries to help the Mainland and Hong Kong further reduce greenhouse gases emission and embark on sustainable development,¡¨ he said.
The seminar attracted about 200 participants, including experts from the National Development and Reform Commission. The speakers gave an in-depth introduction to the rules and methodologies of CDM and relevant management regulation in China. They explained the arrangements for the implementation of CDM projects in Hong Kong.
In addition, the speakers introduced the work and role played by the accredited institutions designated by the United Nations in CDM development
CDM is a mechanism in which Annex I Parties to the United Nations Framework Convention on Climate Change (UNFCCC) and its Kyoto Protocol can fulfil part of their greenhouse gas reduction obligations through implementing technology co-operation projects with non-Annex I Parties.
The essence of CDM is to allow Annex I Parties, in co-operation with non-Annex I Parties, to acquire Certified Emission Reductions (CERs) generated from emission reduction projects conducted in non-Annex I countries for the purpose of achieving Annex I Parties¡¦ emission reduction targets. Non-Annex I Parties in turn obtain the necessary technological and financial means to carry out emission reduction projects. Under the UNFCCC framework, the additional financial incentives from CDM should only apply to those emission reduction projects that were otherwise not financially or technically attractive.
More information on the seminar is now available from EPD¡¦s website www.epd.gov.hk.
Ends/Tuesday, July 21, 2009
Issued at HKT 16:49
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