Promethium Carbon last night received an award as the best project implementer of the British High Commission’s Prosperity Fund in Pretoria. The Prosperity Fund supports projects across Southern Africa with a total budget of £700,000.
This Fund aims to support projects which create the conditions for global growth by advancing South Africa’s development in the realms of business environment, open economy, energy, climate change, illegal wildlife trade, education and science/innovation.
Promethium Carbon implemented a project with Prosperity Fund support in 2014 and 2015, in which the design of a carbon trading platform in South Africa was considered.
The outcome of the project was a showcasing of a pilot trade of carbon on the JSE on 29 January 2015. The trading demonstrated the applicability, functionality, utility and readiness of the well-established commercial and financial electronic infrastructure provided by Silocerts (a South African private sector commodity registry) and the JSE as a potential platform for the exchange of carbon offsets in South Africa.
Robbie Louw, a director of Promethium Carbon, said: “This showed that the required infrastructure to trade carbon exists in South Africa. Market readiness for carbon trading is relevant within the South African context as developing government policy, with respect to both carbon tax and carbon budgets, allow for the potential use of offsets to mitigate the carbon liability of emitters.”
“The successful development of a carbon market will result in significant benefits to the domestic economy with respect to green growth, green job creation and climate change mitigation.”
About Promethium Carbon
Promethium Carbon is a dedicated carbon and climate change advisory firm. The company enjoys the position of being a trusted advisor to major international corporations operating out of South Africa. They are knowledge leaders in the carbon industry. Services include carbon project development, footprinting and disclosure and climate change strategy development. More information is available at www.promethium.co.za
Their clients have achieved the following in recent years:
- 10 Registered CDM projects within 3 African host countries (South Africa, Kenya and Namibia).
- Registered Wind, Solar CSP, Solar PV, Trigeneration and Hydro Programmes of Activities.
- The Star Excellence Award in recognition of outstanding contribution to Africa’s Economic Growth and Development. Awarded in Abu Dhabi during the World Future Energy Summit 2014
- European Energy Risk deal of the year award for Emission Reduction Purchase Agreement, 2010, for a transaction advised by Promethium
- Consistently assist companies achieving top 10 scoring of the CDLI of the CDP.
- Achieved 100% score of carbon strategy on the Dow Jones Sustainability Index for strategy drafted by Promethium
- 1st place for Scope 3 disclosure in the EIO’s emissions tracking of the BRICS 300, and 3rd place in the Global 800 for disclosure drafted by Promethium.
- Assisted the Department of Energy as technical expert in drafting the Integrated Energy Plan
- Assisted the Department of Environmental Affairs in drafting a case study for South Africa’s Monitoring, Reporting and Verification (MRV) strategy.