Vermiculture in Egypt: - FAO - Regional Office for the Near East and

8. Survey of global vermiculture implementation projects focused on
greenhouse gas emission reductions
Vermicompost is one of the activities that could mitigate the greenhouse gases
(GHGs) that cause global warming. Both urbane wastes and agricultural residues
produce considerable amounts of greenhouse gases as described in the previous
chapter. According to the environmental regulations, the reduction of greenhouse
gases could be a source of financial benefits for vermicompost producers. Therefore,
this chapter deals with examples of reducing the emissions through vermicomposting,
which may assist the firms working in this business to sell their carbon reduction in
what is called "carbon market". Every ton of CO2e reduced could be sold with around
10 Euros according to pre-signed contract. The mechanism that regulates such activity
is the clean development mechanism (CDM) of the Kyoto prorocol. Under the CDM
industrialized countries can purchase greenhouse gas emission reductions from
developing countries to help meet their obligations under the Kyoto Protocol.
8.1. Background
The Clean Development Mechanism (CDM) proposed under article 12 of the Kyoto
Protocol is an important potential instrument to promote foreign investment in
greenhouse gas emission reduction options while simultaneously addressing the issue
of sustainable development.
The Clean Development Mechanism (CDM) is one of the Kyoto Protocol programs
for the reduction of greenhouse gas (GHG) emission. Under the CDM, an
industrialized country with a greenhouse gas reduction target can invest in a project in
a developing country without a target and claim credit for the emissions that the
project achieves. German companies, for instance, invested in a wind power project in
Egypt, thus replacing electricity that would otherwise have been produced from coal.
Egypt then sold the credit for the emissions that have been avoided to Germany
which, in turn, used them to meet its own greenhouse gas reduction target.
Both sides benefit from CDM projects. For industrialized countries, the CDM greatly
reduces the cost of meeting the reduction commitments that they agreed to under the
Kyoto Protocol. Developing countries receive financial and technical assistance in
upgrading their energy infrastructure and can sell certified emission reductions for
profit. This diversification of external earnings will reduce oil-exporting countries'
dependence on the highly volatile world oil price.
Egypt is striving to develop efficient, transparent and strong criteria and institutions
for the marketing, approval and control of CDM projects, thus making the country
attractive for international CDM investors and ensuring the efficient implementation
of CDM projects. The private sector will play an important role in this process, be it
as project hosts, in project design and implementation, or in the verification of
emission reductions. Donors and governmental authorities are the potential facilitators
of CDM projects. Environment 2007 therefore intends to increase awareness and
bring together businesses and the various financing institutions in order to ensure their
full participation in the CDM process.
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