Monthly Archives: March 2017

31 Mar

African Utility Week in Cape Town to showcase home-grown solutions as well as business opportunities in continent’s energy market

The award-winning African Utility Week, taking place from 16-18 May in Cape Town, will showcase how the continent is coming up with innovative, home-grown solutions to its energy and water challenges and how these are creating exciting and lucrative opportunities for utilities and industry suppliers alike.

Experts from respected partners in the industry such as the World Bank, KPMG, Power Africa, Huawei, GE, Shell, SAP and leading African utilities will head up the more than 7000 power and water professionals from more than 80 countries, including 30 African nations, who will gather for African Utility Week. But this year also kick-starts a specific focus on a new trend in the industry: namely smaller, community scale off-grid projects that are starting to make a real difference in the development of the continent.

Cleaner, more affordable energy generation options
“The power and energy landscape in Africa is undergoing significant change” says Evan Schiff, African Utility Week event director, adding that current trends include “the availability of private investment for power and energy projects, the fast development of energy storage, renewable energy is becoming cheaper, gas that is an increasingly attractive  mode of power generation in Africa, and that in the next 10 years, nuclear will become an increasingly important mode of base-load power generation.”

The investment, trade and development opportunities in the sub-Saharan African electricity sector are estimated at $835 billion of capital investment, $490 billion for generation capacity and $345 billion for infrastructure.

Community scale projects are another important emerging trend in the sector. “Utility-scale developments are decreasing,” says Ahmed Jaffer, Chairman of KPMG in South Africa and the Head of Power and Utilities, “while we see a lot more of community-sized generation projects. Businesses and communities are also showing interest in becoming less dependent on the national grids. In rural Africa, especially, the economics of expanding the national grids do not make sense; hence there is a significant trend towards mini-grids and other off-grid solutions.”

Alongside the long-running African Utility Week, a new platform for community scale projects, Energy Revolution Africa, will be launched in May this year.

Energy Revolution Africa will provide a unique forum for solution providers to meet with the new energy purchasers such as metros and municipalities, IPPs, rural electrification project developers and large power users, including mines, commercial property developers and industrial manufacturers. The latest innovations and projects in the sectors of renewables, future technology, energy efficiency, micro/off-grid and energy storage will be showcased.

Speaker highlights at African Utility Week include:

  • Lionel Zinsou, Former Prime Minister of the Republic of Benin, member of the West African Energy Leaders Group and investment banker.
  • Matshela Koko, Acting CEO, Eskom, South Africa.
  • Lazarus Angbazo, President and CEO of GE Energy Connections SSA.
  • James Stewart, Global Head of Major Projects (Power and Utilities), KPMG.
  • Bob Lockhart, Vice President of Cyber Security of the Utilities Technology Council.
  • Subha Nagarajan, Managing Director for Africa, Overseas Private Investment Corporation (OPIC), USA.
  • Ambassador Tebogo Seokolo, Chairperson of the Board of Governors of the International Atomic Energy Agency (IAEA).
  • Lucio Monari, Sector Manager for Africa Energy Group, World Bank.

Real world doers share their expertise
The 17th annual African Utility Week is the leading conference and trade exhibition for African power, energy and water professionals who will have the opportunity to meet over 300 suppliers of services and technology to the industry. The expo includes a record number of country pavilions, including from Belgium, Denmark, France, Germany, South Africa, China, Czech Republic, Taiwan and India. Along with multiple side events and numerous networking functions the event also boasts a five track conference with over 300 expert speakers.[…]

You can read the full article here: APO

 

 

30 Mar

Irish Government provides 7.2 million Euros to improve education to 150,000 children in Karamoja

The Irish Government has provided €7.2 million – about Ush 27.5 billion – to the United Nations Children’s Fund (UNICEF) to support the Ministry of Education and Sports through the Gender Unit, to improve quality education for the most vulnerable children and adolescent girls across the Karamoja region.

The Irish Aid-supported programme will target almost 150,000 children in schools in Karamoja (76,606 boys and 57,834 girls from 283 primary schools and 6,716 boys and 4,891 girls in 23 secondary schools) – with a special focus on children at risk of dropping out of school and children with disabilities and special learning needs.

“This contribution from Ireland is critical in improving the skills and future of young people in Karamoja,” the Irish Ambassador, Dónal Cronin, said. “Education is key to the region’s development and this support, to be implemented by our partner UNICEF, is part of our ongoing efforts to empower some of the most vulnerable communities in Uganda.”

Children in the Karamoja region experience multiple vulnerabilities. Approximately 82 per cent of all 6 to 17 year old children in Karamoja are living in poverty and are deprived of at least two or more basic services.

For example, the average rates for primary school completion and transition to secondary school are 14 per cent and 25 per cent in Karamoja compared to the national average of 67 per cent and 70 per cent respectively.

The persistent challenges of low enrolment, poor quality education, teacher absenteeism, and the absence of flexible alternative education opportunities to meet needs mean that dropout rates remain a problem in Karamoja. In some communities, education is not given much value and children, especially girls, are subjected to child marriages, female genital mutilation, child trafficking and child labour.

The Irish support will therefore focus on enhancing teacher effectiveness; strengthening school management; assessing and monitoring learning outcomes; addressing issues of violence in schools; strengthening girls’ education; and promoting peacebuilding and conflict-sensitive education. The support will also address cultural and social practices that continue to undermine inclusive and quality learning.

The five year programme aims to reduce gender gaps in enrolment and completion; improve learning outcomes in basic education; increase the transition of students from primary school to secondary school; and increase awareness within families and communities on the importance of investing in education for both girls and boys.

“This support from the people of Ireland will help thousands of children to stay in school and have a higher quality education, especially adolescent girls who have a critical role in transforming the living conditions of their families and communities in the future,” said Ms. Aida Girma, UNICEF Representative in Uganda.

“Given every additional year in school can increase that child’s future income by up to 10 per cent, this programme will greatly improve the futures of thousands of children as well as the Karamoja region as a whole.”

Ireland has supported improved education access and quality in the Karamoja sub-region for many years now, including most recently the rehabilitation of 21 primary schools across all seven districts. In addition to this support to UNICEF, Irish Aid also provided €150,000 to UNICEF to enhance gender equality in access to services and opportunities in the education sector in ten districts of Busoga region and seven districts of Karamoja.

Distributed by APO on behalf of United Nations Children’s Fund (UNICEF).

29 Mar

Japan donates US $906,000 to Mine Action in South Sudan

Last year alone, Japanese-funded teams cleared a total of 1,799,211 sqm, and closed 450 spot tasks including emergency operations by UNMAS Quick Response Teams to survey and clear civilian locations in Juba in the immediate aftermath of conflict in July 2016

JUBA, South Sudan, March 28, 2017

The Government of Japan has contributed USD 906,000 for the mine action project “Humanitarian Mine Action in Support of Conflict Affected Communities in South Sudan.” Over the past five years, Japan has contribution over USD 13 million to mine action operations in South Sudan. Last year alone, Japanese-funded teams cleared a total of 1,799,211 sqm, and closed 450 spot tasks including emergency operations by UNMAS Quick Response Teams to survey and clear civilian locations in Juba in the immediate aftermath of conflict in July 2016.

An estimated 7.5 million people have been directly affected by the conflict in South Sudan since it began in December 2013. Over the past year, the affected population has grown by more than one million. On 8 July 2016, the optimism for peace and socioeconomic development resulting from the Agreement on the Resolution of the Conflict in South Sudan was interrupted by an outbreak of conflict in Juba and several locations in South Sudan. The use of explosive weapons such as rockets, grenades, and mortars has further increased the proliferation of explosive hazards with accident levels in 2015 and 2016 being the highest in the last five years. It is clear that the explosive legacy of war will continue to inhibit social and economic recovery long after the guns have been silenced.

Continued funding from the people of Japan will support a Multi-task Team (MTT) to reduce the impact of explosive hazards, through survey and clearance as well as the provision of Risk Education, for conflict affected communities in Greater Equatoria.  In South Sudan, where 92,840,000 sqm of contamination is known and hundreds of new hazards discovered every month, Mine Action is a critical enabler of humanitarian aid and a key driver of socio-economic development.

The Ambassador of Japan to South Sudan, Mr. Kiya Masahiko stated, “We feel a sense of mission as a peace-loving nation to support mine action in South Sudan as it lays the ground work for the people of this country to cancel out the negative past and to collectively embark on humanitarian and development efforts. Ahead of the International Mine Awareness Day, I wish to answer the global call for mine action with a USD 0.9 million contribution and to invite others to this indispensable mine action led by our long-standing partner, UNMAS.”

Mr. Tim Lardner, UNMAS South Sudan Programme Manager, emphasized the importance of the support from Japan. “Japan has been a reliable and encouraging partner in mine action to South Sudan and to UNMAS.They have always worked closely with us to support the goals of risk reduction to the population through the clearance of explosive remnants of war, but also maintain an important role in working closely with the government of South Sudan, through the National Mine Action Authority. It is great to have such a steady and reliable partner.”

UNMAS currently supports mine action programmes in Abyei (Sudan/South Sudan), Afghanistan, Central African Republic, Colombia, Côte d’Ivoire, Darfur (Sudan), Democratic Republic of the Congo, Iraq, Lebanon, Libya, Mali, State of Palestine, Somalia, Sudan, Syria and the territory of Western Sahara (MINURSO).

Distributed by APO on behalf of United Nations Mine Action Service (UNMAS).

24 Mar

South Africa Committed to Work with Nigeria for a Better Africa in a Better World

South Africa is committed to work with Nigeria for a better Africa in a better world. This was said by the South African High Commissioner to Nigeria Mr Lulu Louis Mnguni. Mnguni was speaking at a welcoming session for the South African business delegation which arrived in Nigeria on Wednesday, 22 March 2017.

The delegation is in Nigeria to attend the trade and investment mission to that country. The mission started on Monday, 20 March 2017 in Ghana and will kick-off its second leg in Lagos, Nigeria today. The mission is organised by the Department of Trade and Industry (the dti).

According to Mnguni, the two countries do not only focus on servicing the interests of their own citizens, but also to consolidate the African Development Agenda.

He added that both South Africa and Nigeria were the leading forces in Africa and as they move towards the regeneration of the African continent they both could play an important role as the two major countries with leading economies.

Mnguni told the delegates that South Africa with its vast wealth of expertise had an advantage of assisting other African countries to diversify their economies.

“To this end our Department of Mineral Resources has been hard at work, working with Nigeria,” he said.

The mission forms part of the dti’s objective to identify and create export markets for South African value-added products, and services. It will also serve to promote South African products, and service offerings, whilst creating business partnerships between business communities of the respective countries.

Sectors targeted for the mission are agro-processing, electro-technical, infrastructure, mining, services and capital equipment. The programme for the mission will include trade and investment seminars, site visits and business-to-business meetings.

Distributed by APO on behalf of The Department of Trade and Industry, South Africa.

23 Mar

Africa’s oil and gas industry set to meet at the 16th Africa Independents Forum in May

Showcasing Africa’s premier projects and upstream operators, the forum provides plenty of scope for corporate independents, international oil, gas and energy companies and Government officials to network, present their projects, propose new ventures and firm up partnerships and investment deals

LONDON, United Kingdom, March 16, 2017/APO/ —

The 16th Africa Independents Forum (www.Africa-IndependentsForum.com), a key event on the international oil and gas calendar, will get underway in London on the 24th and 25th of May.

This annual gathering of Africa’s oil and gas upstream industry is an essential platform for reviewing the state of the industry and exchanging ideas on game-changing opportunities for the future. Showcasing Africa’s premier projects and upstream operators, the forum provides plenty of scope for corporate independents, international oil, gas and energy companies and Government officials to network, present their projects, propose new ventures and firm up partnerships and investment deals.

Being held around the theme of “Shaping the Continent’s Future in Upstream Oil & Gas”, this year’s programme focuses on developing and driving change in the industry. In-depth presentations provide a framework for exploring solutions that move beyond survival tactics to establish best practices that better equip the industry to weather uncertainties and withstand shocks whilst maintaining optimum performance.

A recent Ernst & Young report states that the total deal value for Africa in 2016 was US$4.9 billion across 61 deals, of which 92% were upstream, with downstream deals making up the remainder. Eighty percent of the upstream deals were announced in the fourth quarter, possibly due to a return of confidence in the industry and an expected upturn in operational activity in the ensuing months.

This forecast upswing sets an optimistic tone for the 16th Africa Independents Forum. Confirmed speakers who will share their insights are Pade Durotoye, CEO of Oando Energy Resources; Darran Lucas, Exploration and New Ventures Director at Sasol; Erwin Kroll, Senior Vice President for the Middle East and Africa at OMV Upstream; Neil Ritson, Chairman of Solo Oil Plc and Oisin Fanning, Executive Chairman of San Leon Energy in Dublin.

A highlight of the forum, the 79th PetroAfricanus dinner, will be hosted by ITE (ITE-Exhibitions.com) at The Waldorf Hilton where Jasper Peijs, VP of Exploration Africa at BP, will address members of the PetroAfricanus Club.

Also hosted by AIF is the 8th Global Women in Petroleum & Energy Club Luncheon, organised by Frontier Communications with, as guest speaker, Sandy Stash, Group VP for Safety, Sustainability and External Affairs at London’s Tullow Oil.

In 2015 the Ugandan government, represented by Ernest Rubondo, Acting Director of Petroleum, Directorate of Energy & Minerals, used the AIF to promote its maiden competitive bidding round for the licensing of six blocks in the Albertine Graben which resulted in 17 firms submitting applications for qualification.

Organised by ITE, the forum provides excellent exposure for sponsors, exhibitors and advertisers with a number of tailored opportunities for showcasing and networking. The latest sponsor to come on board is Lagos-based ACAS-Law.

Distributed by APO on behalf of Africa Independents Forum.

21 Mar

President Zuma to Officially Open the United Nations World Water Day Summit and Expo in Durban

The Expo will be held under the theme “Water and Sanitation is a Human Right” in line with the South African government’s calendar of activities with March celebrated as a Human Rights Month

PRETORIA, South Africa, March 20, 2017/APO/ —

President Jacob Zuma, in his capacity as the Chairperson of the Heads of State Committee on the United Nations (UN) High Level Panel on Water, will on Wednesday, 22 March 2017, officially open the United Nations (UN) World Water Day Summit and Expo in Durban, KwaZulu-Natal.

The Summit will be held under the theme “Water and Sanitation is a Human Right” in line with the South African government’s calendar of activities with March celebrated as a Human Rights Month.

South Africa will host the Summit and Expo through the Department of Water and Sanitation, in partnership with the KwaZulu-Natal Provincial Government and United Nations Water.

The Summit will also provide an opportunity to launch the 17th edition of UN’s World Water Development Report, which focuses on the critical role of wastewater management for vibrant economies, resilient societies and the maintenance of healthy environments across the globe.

President Zuma will also present a Declaratory Statement on roll-out activities of the High Level Panel on Water at domestic, regional and global levels.

The Summit will further provide South Africa with an opportunity to outline progress that the country has made in meeting water and sanitation goals since 1994 and will also be a platform for sharing knowledge and experience on risks in water provision induced by drought and climate change.

The South African Government continues to call on all communities to conserve water in order to ensure sustainability of water supply.

The details of the Summit are as follows:

Date: Wednesday, 22 March 2017
Time: 10h00
Venue: Inkosi Albert Luthuli International Convention Centre, Durban.

Media attending the Summit should please send their details to Vukile Mathabela on 082 708 3269 or DWS Spokesperson Sputnik Ratau on 082 874 2942 or KZN COGTA Spokesperson Lennox Mabaso on 082 884 2403.

Distributed by APO on behalf of Republic of South Africa: The Presidency.

 

20 Mar

Nigerian Government commends Dangote Cement self-sufficiency feat

The Federal Government has officially confirmed that Nigeria has attained self-sufficiency in the production of cement and is now an exporter of the commodity

The Federal Government has officially confirmed that Nigeria has attained self-sufficiency in the production of cement and is now an exporter of the commodity, ascribing the feat to Dangote Cement (www.Dangote.com) which spare headed the backward integration policy introduced by the government.

Minister for Solid Minerals Development, Dr. Kayode Fayemi who leads a team of the federal government to the Dangote Cement plants in Ibese, Ogun State at the weekend said the government was happy with the leadership roles played by Dangote Cement in executing the backward integration policy in the cement industry.

It would be recalled that the Group Managing Director of Dangote Cement, Onne Van der Weijde had last month whole presenting the financial results of the company for 2016, declared that the Company had commenced exportation of Cement to Nigeria’s neighbouring countries.

He said: “We exported nearly 0.4Mt into neighbouring countries and in doing so, we achieved a great milestone by transforming Nigeria into a net exporter of cement.
“This is a remarkable achievement, given that only five years ago, in 2011, Nigeria was one of the world’s largest importers, buying 5.1Mt of foreign cement at huge expense to our balance of payments. We will increase our exports substantially in 2017.”

Meanwhile, the Minister said it is a success story that Nigeria which few years ago imported over 60 per cent of her cement needs now can produce to meet local demands and still export to other nations, this is highly commendable.

The Minister stated: “As you all know, as the Federal government moves to diversify the economy away from oil, two areas the government is focusing on are agriculture and solid minerals, this is why we are embarking on tour of mining operations across the country to know the challenges they face and what could be done to tackle those challenges.
“What Dangote is doing is marvelous. We need to commend them. The way they led the backward integration policy to turn around our fortunes in the cement industry. I am delighted to see the development here bigger that what I saw the last time. And we are looking at how we can replicate the successes in the cement industry in other non-oil sectors of our economy.”

Dr. Fayemi said besides the mining operations, government was also trying to see how the big plants are being in an environmentally friendly manner as observed in Dangote Cement.

“We need to collaborate and partner in these areas at this time that government is trying to reduce the dependence on oil. We need to tun around our mineral resources just as what obtained in cement sector. When you look at the our solid mineral industry, there is a wide gap between what we can produce and what is consumed, importation in these sector is huge.”

Earlier while welcoming the Minister and his delegation, the Honourary Adviser to the President of Dangote Group, Engr. Joseph Makoju explained that Dangote Cement operates the largest cement mining operations across the country.

He explained that Dangote Dangote cement also operates the largest coal mining to generate power as alternative to gas since the supply of gas has been plagued with incessant disruptions. He added that over 50 per cent of power need of the cement plants are generated from coal.

The Ibese Plant Director, Amando Martines then made a presentation on the Ibese plants, how it was expanded from two lines of 6 million metric tons per annum to four lines and can now produce 12 million metric tons per annum.

Dangote Cement is Africa’s leading cement producer with nearly 46Mta capacity across Africa, a fully integrated quarry-to-customer producer with production capacity of 29.25Mta in Nigeria.

Its Obajana plant in Kogi state, Nigeria, is the largest in Africa with 13.25Mta of capacity across four lines.

The Ibese plant in Ogun State has four cement lines with a combined installed capacity of 12Mta. The Gboko plant in Benue state has 4Mta. The company plans to build new factories in Ogun State (3-6Mta) and Edo State (6.0Mta).

In addition, it has invested several billion dollars to build manufacturing plants and import/grinding terminals across Africa. Our operations are in Cameroon (1.5Mta clinker grinding), Congo (1.5Mta), Ghana (1.0Mta import), Ethiopia (2.5Mta), Senegal (1.5Mta), Sierra Leone (0.7Mta import), South Africa (3.3Mta), Tanzania (3.0Mta), and Zambia (1.5Mta).

Distributed by APO on behalf of Dangote Group.

17 Mar

Orange launches its brand in Burkina Faso and strengthens its positions in West Africa

Orange will pursue its development in mobile financial services and 3.75G mobile Internet, where it was the first operator to launch and is today the uncontested leader in Burkina Faso

Orange (www.Orange.com), one of the world’s leading telecommunications operators, announces today the launch of its brand in Burkina Faso. Less than one year after the closing of the Group’s acquisition of Airtel, together with Orange Côte d’Ivoire, this announcement clearly demonstrates Orange’s ambitions for the West African market.

Orange will pursue its development in mobile financial services and 3.75G mobile Internet, where it was the first operator to launch and is today the uncontested leader in Burkina Faso. Its Orange Money solution for international transfers will be further expanded in the West African Economic and Monetary Union (UEMOA). The expansion of its optical fibre network will contribute to increasing its brand awareness as the leading provider of Internet access and connectivity to enterprises. Thanks to an ambitious network modernization plan and the strength of its parent company’s innovation capability, Orange Burkina Faso will bring an incomparable customer experience to its 6.3 million subscribers.

Bruno Mettling, Deputy Chief Executive Officer of the Orange group and Chairman and CEO of Orange MEA (Middle East and Africa), commented: “It is a great honour for the Orange group to inaugurate its presence in Burkina Faso at a time when the country is resolutely engaged in a vast economic development programme. The arrival of the Orange brand testifies to our commitment to providing the benefits of the digital ecosystem to the entire population of Burkina Faso.”

Ben Cheick Haidara, CEO of Orange in Burkina Faso, added: “Today, customers in Burkina Faso are more demanding and the way they use digital services has evolved; we are at a decisive turning point in the development of the telecoms market. Our ambition is to continue the work accomplished in recent years in the mobile money and mobile Internet fields to make Orange the leading partner for Burkina Faso’s digital transformation.”

The launch of the Orange brand in these countries is also an opportunity to welcome the men and women of Orange Burkina Faso and underline their accomplishments in their daily work to offer an incomparable customer experience.

Orange is present in 21 countries in Africa and the Middle East, where it has more than 120 million customers. With 5.2 billion euros in revenues in 2016 (12% of the total), this region is a strategic priority for the Group. Orange Money, its flagship offer for money transfers and mobile financial services is currently available in 17 countries and has more than 30 million customers.

Distributed by APO on behalf of Orange.

17 Mar

Infomineo reveals rising global interest in the Middle East Africa region from Fortune 500 companies

Overall, there was a 17% increase in the number of companies in MEA in 2016 compared to 2015, with Johannesburg being the leading destination for Africa

The Middle East Africa (MEA) region has become increasingly important for the majority of global Fortune 500 countries, according to a new report released by Infomineo (www.Infomineo.com), a global business research company specialising in Africa and the Middle East.

The report focuses on multinationals looking at entering, or already present, in the Middle East and Africa region. Overall, there was a 17% increase in the number of companies in MEA in 2016 compared to 2015, with Johannesburg being the leading destination for Africa.

The Infomineo analysis includes the regional footprint of multinationals in the MEA region, the most commonly chosen cities, and the factors which influence the selection of the region, country and city – each element revealing the dynamic growth patterns within the region and a clear trend of Fortune 500 companies establishing some kind of presence in MEA.

In 2016, 196 Fortune 500 companies had established a dedicated regional headquarters in the MEA region. In the Middle-East, Dubai is the most popular choice with 138 companies establishing a dedicated entity in the city. There has also been a marked uptick in companies deciding to cover MEA from outside of the region – 38 companies up from 22 have established a regional headquarters in areas such as London, Brussels and Paris. The leading destinations on the Fortune 500 list include Dubai, Johannesburg, Casablanca, Nairobi, Lagos, and Cairo. Egypt remains behind the leaders due to political instability, however, it has seen a 250% increase in Fortune 500 investment since 2015. Germany and France are leading in terms of coverage rate while China has the lowest presence in the region.

Industry type plays a pivotal role in the selection of city and country. Financial services are more likely to base MEA coverage from London, while technology companies are more inclined towards Casablanca or Lagos. The latter city is also the premier location for organisations looking to manage their operations across Western Africa with 12 Fortune 500 companies already established in the region. Automotive and Healthcare tend to have a presence in both Africa and the Middle East, while Technology is more inclined to having a presence from the outside.

Nairobi, in Kenya, is the leading destination for the FMCG companies and tends to be the top choice for organisations looking to service Eastern Africa. Dubai and Johannesburg are the most popular hubs overall, but both Casablanca and Nairobi are rapidly gaining traction and international awareness. Casablanca has the highest growth rate overall, while Dubai has the highest count. The same can be said for London, which has tripled its number of regional HQs in the region, acting as an MEA hub. Given the geographical proximity and the talent pool present in the city, it could be that London is playing the role of a first step into the MEA region, especially for Japanese and North American companies.

There are numerous factors which impact on the organisation’s selection of a specific city. These include the local market potential, maturity of the industry, existing competitors, political stability and the quality of the employment market, among others. Determining the attractiveness of a location along these clear lines assures the Fortune 500 companies of a stable and profitable investment and significantly mitigates risk. The most attractive cities are Dubai, Johannesburg, Casablanca and Nairobi, and at the lower end of the spectrum, Cairo, Paris, Algiers and Cape Town.

Through this analysis, organisations gain a thorough understanding of markets and factors which ensure a steady base of operations from which organisations can expand into the growing MEA market, and establish brand and identity within the growing middle classes. Infomineo has undertaken in-depth analysis and research on the MEA region, revealing the various factors inhibiting or inspiring Fortune 500 uptake. Further data on the analysis can be found here.

Distributed by APO on behalf of Infomineo.

15 Mar

The Russian Carbon Fund, Aera Group pioneer the first worldwide carbon credit transaction using blockchain technology in DAO IPCI

Aera Group and the Russian Carbon Fund also announced a partnership to provide Russian buyers with direct and long term access to high quality African carbon credits

PARIS, France, March 14, 2017/APO/ —

  • Pilot transaction was executed on Tuesday, March 14, 2017 at 8:00 am (UTC+1:00) between the Russian Carbon Fund on the buying side and Aera Group, the largest supplier of African carbon credits, on the selling side in the DAO IPCI blockchain ecosystem with IT support of Airlab.
  • The Verified Carbon Units acquired by Russian Carbon Fund are intended to offset carbon footprint in Russia and internationally, by airline passengers, in particular.
  • Transaction rewards 1 year of blockchain application for carbon markets development undertaken by DAO IPCI team of blockchain and environmental markets experts.
  • The new CO2 exchange / blockchain platform will ensure more transparency, integrity and lower transaction costs for buyers and sellers of carbon credits and other environmental mitigation outcomes.
  • DAO IPCI has and ongoing working relationship with Backer McKenzie on the structure of the CO2 blockchain platform and transactions on the CO2 blockchain.
  • The initiative aims at raising and catalyzing pre-compliance and voluntary CO2 offsets demand and support the emergence of a Russian carbon market.
  • Russia is close to ratification the Paris Agreement and hopefully shall work on ambitious targets to reduce CO2 emissions under the Agreement, and corporates can offset their emissions and reach carbon neutrality thanks to carbon credits.
  • Aera Group and the Russian Carbon Fund also announced a partnership to provide Russian buyers with direct and long term access to high quality African carbon credits.

Anton Galenovich, Chairman of the Council of the Russian Carbon Fund: “The platform developers’ idea is to provide common space for fair competition, provide early crediting, offsetting carbon footprint opportunities for the companies, and break the barriers dividing locations and types of high quality mitigation outcomes. Russian market mechanisms are in the trial pilot phase and may have significant offsetting capacity on the supply and the demand side in near future. Russian carbon credits developed and assured under strict requirements of the Integrated Program for Climate Initiatives are still under verification process to be issued in DAO IPCI ecosystem”.

Alexey Shadrin, CEO and Founder of the Russian Carbon Fund: “We have just witnessed a truly historical moment for the global low carbon economy – the first ever blockchain based climate deal. I am sure that our successful joint effort will mark the beginning of a new era of climate cooperation between nations and help the world reach sustainable development goals”. 

Fabrice Le Saché, Aera Group Executive Chairman: “We strongly believe that Russia will become a key player of the international climate transition in the years to come. Beyond environment, this is a matter of economic competition and performance as it drives innovation. We are pleased to pioneer a market and a technology at same time. We expect to connect Russian corporates with charismatic African CO2 offset projects yielding mitigation and adaptation benefits”.

Max Gutbrod, Partner at Baker McKenzie: “Blockchain technology is ideal to increase transparency in carbon markets; we are therefore pleased and honored to be acquainted with Blockchain Ecosystem and looking forward to further contribute it to reach its global potential”.

Ivan Panov, partner at Causa Privata Law Firm: “We have seen a huge number of transactions and projects involving carbon markets and carbon credits. But this particular project is literally a pioneer, for it is based on the technology and approaches which have been never used before. This may become a real breakthrough solution for the implementation of climate projects and their financing”. […]

Read the full story here: APO