U.S. Company Global Carbon Group agreed to buy carbon credits from the mayors of San Jose and San Francisco in the first operation of its kind in Guatemala, and thus offsetting 1.2 million tons of greenhouse gases for 20 years.
For Guatemala this type of arrangement is an alternative to stop deforestation in the country.
The article in Prensalibre.com, reported that "The sale of carbon credits is a mechanism recognized by the Voluntary Carbon Market, a parallel initiative to methods used by the Kyoto Protocol."
Eleven companies have shown their interest in participating in the local carbon credit market, which still lacks clear rules.
"Although in the last few days a "road map" for the Voluntary Domestic Carbon Credit Market in Costa Rica has emerged, there is still much to be done, therefore the country should not slow down on this issue," said Wilkie Mora, manager at Geocycle (a subsidiary of Holcim).
The Dutch Cooperation Service promotes the creation of a market for carbon certification in the country.
With the aim of promoting business development in the carbon market, the Dutch Cooperation Service (SNV) will develop the "Investment Opportunities in the Carbon Market" conference, in which "entrepreneurs and investors, members of the banking sector, the public sector, consulting firms and international collaborators will participate."
Eight Panamanian projects have been authorized by a UN commission to sell carbon credits on global markets and there are 24 initiatives in the evaluation phase.
The Executive Board of Clean Development Mechanisms of the United Nations Convention Framework on Climate Change, is the body which has authorized eight projects established in Panama to sell carbon credits on the international market.
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