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Mexico To Earn Royalty On Light Bulb Carbon Credits

Posted by Lindy on November 18, 2011


http://planetark.org/wen/63813

08-Nov-11 – from an article by  Sonali Paul

Mexico will earn a royalty on carbon credits generated from energy-saving light bulbs through a world-first deal that could pave the way for other developing countries to fund emissions cuts. Under the project, an Australian company, Cool nrg International will distribute 45 million energy efficient light bulbs to 6.5 million low-income households in Mexico City. The aim is to generate energy savings of 33,000 gigawatt hours, cutting annual emissions by the equivalent of about one-third of car emissions in a city renowned for its smog. In total, the project aims to reduce 16 million tonnes of carbon dioxide (CO2), the main greenhouse gas, over 10 years.

Every tonne of CO2 saved will generate a credit, or certified emission reduction (CER), which will be sold to companies in rich nations, which will incur huge fines if they overstep their limits and do not buy in carbon credits to cover any shortfall.

The project is seen as a possible model for other developing countries looking for ways to fund the promotion of energy saving and less-polluting technologies.

While complex to carry out and monitor, the Mexican project could result in significant emissions cuts, help low-income households save money on energy and generate funds for the government too as they receive commission from light bulb company.

A light-bulb project by Cool nrg and its partners in 2009 was the first of its type to be approved under an expanded form of the United Nations’ Clean Development Mechanism. The CDM allows clean energy project developers to earn CERs from projects in poorer countries.

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