For the first time in their history, the International Energy Agency (IEA), the International Emissions Trading Association (IETA) and the Electric Power Research Institute (EPRI) invited a developing country, Grenada, to participate in their Annual Emissions Trading Workshop.
Dr. Hugh Sealy, Energy Advisor to the Government of Grenada and Associate Professor at St. George's University represented Grenada at the 11th Annual Emissions Trading Workshop held in Paris, France on October 3rd and 4th, 2011.
There he discussed the future of the carbon market and in particular the role of the Clean Development Mechanism, a financial instrument established under the Kyoto Protocol to facilitate compliance with mitigation targets by developed countries and sustainable development in developing countries.
Through his participation, Dr. Sealy emphasised the need, within developing countries and especially Small Island Developing States (SIDS), to access concessionary financing and appropriate technologies to mitigate and adapt to climate change. He urged the development partners and the private sector to continue to support the efforts of SIDS and Least Developed Countries (LDCs) to transition to a low carbon development path, using market-based approaches where appropriate.