Kyoto mechanism also good for German economy
Germany and Peru want to cooperate closely with regard to climate protection and want to make use of the Clean Development Mechanism (CDM) in particular. This instrument, introduced by the Kyoto Protocol, supports climate protection investments in developing countries. The amount of carbon dioxide emissions saved is credited to the investors from industrial countries. In the context of emissions trading this is an interesting opportunity for German companies.
Carlos Higueras, Ambassador of the Republic of Peru and Matthias Machnig, State Secretary of the Federal Environment Ministry, signed a corresponding Memorandum of Understanding in Berlin. In Germany, exporting companies in the sectors of plant construction and project development in particular can benefit from the agreement. Yet it also offers new opportunities to those companies which have to reduce their own carbon dioxide emissions due to the EU Emissions Trading Scheme. Foreseeable investments and technology transfer will support sustainable development in Peru. Both parties benefit from the agreement and so does climate protection.
Concerning the use of the CDM mechanism, Peru is one of the countries leading the way. The institutional requirements for the approval and realisation of CDM projects are fulfilled. Today Ambassador Higueras presented a list of more than 50 individual proposals for investment projects in the sectors of hydropower, forest, landfills, wind energy, biomass and biofuels.
State Secretary Machnig welcomed Peru's activities: "The recently presented Stern Review powerfully illustrates that the world economy can only develop in a positive way if we intensify climate protection. For this purpose applying the CDM mechanism in developing countries plays a decisive role. We want to help to bring together interested German companies with potential partners from Peru."