June 13 - Canada Egypt Business Council

Do you think that carbon compensation is a sensible way to
protect the environment?
It definitely makes sense to reduce and compensate for emissions! we
can choose compensation projects that have an added social or environmental
benefit, e.g. projects that protect the forest or provide decentralized
power to villages. There is, of course, also always an economic
aspect: companies and households increasingly worry about
their energy consumption, because they expect energy to become more
expensive in the future. In addition, they realize that big politics – the
Kyoto process – does not offer the hoped-for global solution. So it
seems that the way to go is via individual companies and every single
one of us. We are responsible for our carbon footprint. I cannot rely
on the government or other people to take care of the “garbage” I
leave behind.
How do both industrial and developing countries benefit from
it?
Through CO2 certificates, it is possible to bring environmental
technology to developing countries, which they normally would not
get. In the majority of these countries, there are no laws or
environmental markets that help solve these problems. At the same
time, industrial countries benefit by reducing greenhouse gas
emissions where it is cheapest and by selling technology to
developing countries.
35