SADC endorses SRCF

Further support was given to the formation of the SADC Regional Carbon Facility (SRCF) at the 31^st SADC Energy Ministers Meeting, held in Luanda, Angola on 29 April 2010. A press release for the event, states:

"Ministers noted the ongoing implementation of the GTZ Programme for Biomass

Energy Conservation (ProBEC) Exit Strategy aimed at facilitating the flawless transfer of ProBEC activities to the Secretariat and Member States by December 2010 when Germany support for the project ceases. They saw this as an absolute imperative as biomass remains the most important energy source for the vast majority of the population in the region. Towards this end the Ministers called for the creation of a SADC Carbon Facility and its alignment with the Climate change process, establishment of the proposed Basket Fund, identification of local focal point organizations by Member States and close monitoring of the development of the SADC Carbon Market Strategy for review and approval at their next meeting.”

ProBEC is continuing its work around the development of its concept for a regional carbon facility in SADC and is busy finalising the selection of a private sector carbon company to take over this facility, with SADC as a board member. The latter half of 2010 will see a handover of ProBEC's information to the appointed company, and a streamlining of operations to fulfil the needs of acquiring credits for saved greenhouse gas emissions.

It is envisaged that the SRCF will ensure the sustainability of ProBEC's work, as a German government revenue stream is replaced by carbon credits, thereby continuing the public benefit emphasis of ProBEC's work. In this way, ProBEC hopes to protect its investment and to ensure that a public entity like SADC reaps the benefit of all the years of hard work ProBEC has done on product and market development in the region.