Grenada’s Energy Advisor Dr. Hugh Sealy, is encouraging countries, of the Small Island Developing States (SIDS) to access concessionary financing and appropriate technologies to mitigate and adapt to climate change.
Sealy is just back from the 11th Annual Emissions Trading Workshop held in Paris, France, earlier this year.
While at the workshop, Dr. Sealy, who is also a professor at the St. George’s University, had the opportunity to address the workshop.
He urged the development partners and the private sector to continue to support the efforts of SIDS and Least Developed Countries (LDCs) to transition to a low carbon development path, using market-based approaches where appropriate.
This workshop is conducted by the International Energy Agency (IEA), the International Emissions Trading Association (IETA) and the Electric Power Research Institute (EPRI).
This is the first time that the organisations invited a developing country, to participate in their Annual Emissions Trading Workshop.
The future of the carbon market and in particular the role of the Clean Development Mechanism, were among issues discussed at this year’s workshop.
The Clean Development Mechanism is a financial instrument established under the Kyoto Protocol to facilitate compliance with mitigation targets by developed countries and sustainable development in developing countries.