Ecobreves – HONDURAS: San Pedro Sula Wants to Sell Carbon Bonds

By IPS Correspondents and - - Reprint | | Print |

TEGUCIGALPA, May 23 2011 (IPS) - The local government of San Pedro Sula, 250 kilometers from the Honduran capital, plans to sell carbon credits to finance the preservation of El Merendón mountain, considered the “green lung” of the city. A technical commission has been created to seek certification of the preservation of El Merendón on the international carbon credits market, the director of the environment department at San Pedro Sula City Hall, Julio Rivera, told Tierramérica.

The carbon credits would be sold to foreign companies, raising resources to help prevent deforestation on El Merendón and finance social and environmental programs in the area.

Under the Kyoto Protocol on climate change, companies and countries obliged to reduce their greenhouse gas emissions can invest in “green” projects in developing nations to offset their emissions.