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About Carbon Credit PDF Print E-mail
Saturday, 29 November 2008

Carbon trading is a market mechanism intended to tackle global warming. The most important greenhouse gas contributing to global warming is carbon dioxide, which is mainly emitted by burning fossil fuels. The key idea behind carbon trading is that, from the planet's point of view, where carbon dioxide comes from is far less important than total amounts. So, rather than rigidly forcing the reduction of emissions country-by-country, (or company-by-company), the market creates a choice: either spend the money to cover the costs of cutting pollution (emissions), or else continue polluting (emitting), and pay someone else to cut their pollution.

The improved biomass stove dissemination program in Eritrea has been actively involved in carbon credits trading through compensation for or "offset" emissions.

The Ministry of Energy and Mines of Eritrea has sold VERs (Verified Emission Reductions) measured and expressed in tons of carbon dioxide equivalent from the Improved biomass stove project to buyers(Carbon Nutral Company (TCNC) or Future Forest, Sustainble Partner GmbH and Climat Mundi ) with reasonable unit price of VERs.

Click
here to see the over all distribution of Improved biomass stoves , total VERs , sold VERs and unsold VERs in different Zones of Eritrea as illustrated in table.

Last Updated ( Monday, 19 October 2009 )
 
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