Carbon Market Opportunities in Dominican Republic
Santo Domingo. March 8th, 2007.

Global Foundation for Democracy and Development/ Fundación Global Democracia y Desarrollo in collaboration with the Ministry of Environment and Natural Resources of the Dominican Republic and the Andean Promotion Corporation held the conference titled “Carbon Market Opportunities in Dominica Republic”.  The guest speaker for this conference was Christiana Figueres Olsen.

Figueres, international leader in energy and natural resources, revealed that the Dominican Republic has excellent opportunities to get involved in the carbon market, given the intensity of CO2 emissions in its energetic mainframe. This allows establishing an efficient program in the distribution and final use based on the natural resources that it possesses.

The participation of the country in the Kyoto Protocol will protect it from the negative effects of climate change and to deal with the natural vulnerability associated with insular condition of the country.

Studies show that the Dominican Republic can be a good investment opportunity in the energy, transportation and solid waste sectors, through the Clean Development Mechanism (MDL for its name in Spanish).  This mechanism is part of the Kyoto Protocol, so that industrializes countries can reduce their emission of gases with a lower cost.

The situation of the Dominican Republic is that between 65 % and 70% of gas emissions are from the energy sector.

The Ministry of Environment and Natural Resources has created the Office for Clean Development Mechanism.  This office will provide orientation and help promote the projects interested in this mechanism. These projects will be presented and certified by the United Nations System.

For more information:
Ministry of Environment and Natural Resources