http://beta.worldbank.org/climatechange/
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World Bank Fund Buys First African Soil-Based Carbon Credits
2010-11-03 17:52:50.201 GMT
By Mathew Carr
Nov. 3 (Bloomberg) -- The World Bank BioCarbon Fund will
buy the first African soil-based carbon credits in a transaction
that may boost revenue for farmers and help protect the climate.
Projects located in the Nyanza Province and Western
Province of Kenya will train farmers in cropland management
techniques such as covering crops, crop rotation, compost
management and agro-forestry, curbing emissions from farming,
the World Bank said today in an e-mailed statement.
The local communities will get $350,000 with an initial
payment of $80,000 in the first year, 2011, it said.
"As Kenya ramps up its participation in carbon markets,
this project illustrates concretely how carbon finance can both
support the environment and generate revenues for local
communities," Joelle Chassard, manager of the Carbon Finance
Unit at the World Bank, said in the statement.
For Related News and Information:
Emission market news NI ENVMARKET <GO>
Today's top energy stories ETOP <GO>
European power-markets home page EPWR <GO>
--Editors: Rob Verdonck, Reed Landberg
To contact the reporter on this story:
Mathew Carr in London at +44-20-7073-3531 or
m.carr@bloomberg.net
To contact the editor responsible for this story:
Stephen Voss at +44-20-7073-3520 or sev@bloomberg.net
