NEFCO Norwegian carbon funds contract four Sub-Saharan African projects

Contracts with four additional projects have been signed from the joint second Call for Proposals under the NEFCO Norwegian Carbon Procurement Facility and the NEFCO Carbon Fund.

These Clean Development Mechanism projects, including three Programmes of Activities (PoAs), are located in Nigeria, Malawi, Sudan and Democratic Republic of Congo.

With these projects, the portfolio of 17 projects meets NorCaP’s target of some 30 million tCO2e emission reductions by 2020 to be used by Norway in the second commitment period of the Kyoto Protocol (2013-2020).

The Norwegian Carbon Procurement Facility (NorCaP) was established by the Norwegian Government in September 2013, with NEFCO as the Facility Manager. The principal objective of NorCaP is to prevent the reversal of emission reduction activities by procuring credits from projects whose survival or continued emission reductions depend on a higher carbon price than achievable under current market conditions (“vulnerable projects”). NorCaP targets some 30 million of emission reductions by 2020.

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