African Carbon Asset Development (ACAD)
As of: April 2021
In cooperation with African financing institutions, the project supported climate-friendly projects in southern Africa. To this end, ACAD adviced local banks and co-financed project development costs as part of the Clean Development Mechanism (CDM). Recipients of the financial support were local entrepreneurs, project developers, local service providers and carbon consultants, as well as national government agencies, institutions, and financial institutions. ACAD also supported local actors in developing CDM methodologies.
State of implementation/results
- Project completed
- Local network of project developers, financing institutions and carbon consultants established; banks received trainings not only in CDM-projects, but for CO2-Footprints related to their portfolio;
- 15 CDM projects in southern Africa were given financial and technical support of which eight CDM projects were registered with a mitigation potential of 1,15 M tCO2e;
- The project furthermore supported the development and registration of two grid emissions factors (South African Power Pool – SAAP and West African Power Pool – WAPP) as standardized baselines for CDM-projects, e.g. to enable grid connected renewable energy, at the UNFCCC secretariat.