CDM feasibility studies to expedite inclusion in emission-reducing projects, trading of carbon credits
Energy Management Services (EMS), the leading energy management and conservation company in the Middle East, has announced that it has launched a new service that will assist UAE businesses in securing Clean Development Mechanism (CDM) projects, by conducting feasibility studies for participation in the international Carbon Credits Program.
EMS will determine if a proposed project's greenhouse gas emissions reduction target is viable, measurable, and higher than what would have occurred without CDM implementation. The new service will allow companies to tap into EMS' expertise to ensure that they qualify for CDM projects, and eventually, for the Carbon Credits program.
The CDM service will analyse the CDM characteristics of the project, help projects draft the Project Information Note and assist in drafting the Project Development Document (PDD) required to qualify a project for CDM compliance. EMS will also verify and certify reports and requests for Certified Emission Reductions (CERs). EMS with its partner, Climate Change Capital (CCC) are then positioned to purchase the CERs at agreed upon quantities and prices, which the project may include in their financial feasibility analyses.
Khaled Bushnaq, Managing Director of EMS, said that the new CDM service will help to expedite carbon emission reduction projects in the UAE and in the region. "EMS will rely on its vast experience in green technology and its highly skilled engineers to help companies to secure CDM projects and eventually gain from their carbon emission reduction initiatives, in line with our philosophy of finding environmentally sound solutions to business and lifestyle activities."
"Our certified engineers are currently well-versed in Leadership in Energy and Environmental Design (LEED) Green Building Rating certification and are already assisting major developers such as Emaar Dubai, Union Properties, and Escan in acquiring green certification," he added.
CDM is an arrangement under the Kyoto Protocol, an international accord under the United Nations Framework Convention on Climate Change, to reduce greenhouse gases by means of a "Cap and Trade" system for carbon emissions. The Mechanism reduces net global greenhouse gas emissions at significantly lower international cost by allowing developed countries and companies within those countries to fund emissions reduction projects in developing countries where costs are less prohibitive than in industrialized countries.
Carbon credits assign a monetary value to emitting a unit of carbon dioxide or the global warming equivalent of any of 5 other greenhouse gasses, thereby creating a commodity to something that was previously an externality. Emissions thus become an internal cost of business activities and are included on the balance sheet along with raw materials and other liabilities or assets. Each metric tonne of carbon dioxide emission is equivalent to a Certified Emission Reduction (CER); CERs can be sold privately or in the international market at internationally traded market prices. Companies thus have the option of either implementing internal emission reducing programmes, or buying CERs to cover themselves if they do not meet their emissions reduction requirements.
"The UAE leads the region in sustainable development initiatives and as a major global oil producer is particularly aware of the environmental consequences of carbon emissions. This is evident from H.H. Sheikh Mohammad's landmark mandate requiring construction projects in Dubai to comply with international LEED green building standards starting January 2008. CDM is an essential first step for companies planning carbon emissions reduction projects and a positive initiative for the country's environmental protection efforts," concluded Bushnaq.
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About EMS
Energy Management Services provides a full range of real estate development solutions that optimise energy performance and maximise savings without compromising operations and services. The company's 15 years of exposure to the Gulf's industrial, commercial and residential sectors has made it a trusted and respected provider in the region. One of the unique services offered by EMS is its Energy Efficient Architecture (EEA) analysis, which systematically evaluates and analyses the function of systems, processes and building equipment. One of the key projects of EMS is the Amway Island Bahrain in the Kingdom of Bahrain, which the company helped attain LEED compliance.
For further information, please contact:
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© Press Release 2008
