Myanmar Agri-Tech Carbon Capital Ltd. Business Description
Our planet is having to deal with the negative effects of global warming and climate change caused by the emission of greenhouse gases (GHGs), which has resulted in the melting of polar ice caps, rise in sea levels, droughts and severe storms.
In order to mitigate the effects of climate change, countries around the world in 1992 established the United Nations Framework Convention on Climate Change (UNFCCC). At the Kyoto Conference in 1997, a Protocol was agreed upon by members of UNFCCC, which provided developed countries with legally binding obligations to reduce the emission of green house gases. The Kyoto protocol, which came into effect in 2005, included several mechanisms. One of these was the Clean Development Mechanism (CDM), which gives economic incentives for developing countries to voluntarily reduce GHG emissions. A new global market has already been created by the generation, sale and trading of Certified Emission Reductions (CERs) – often referred to as carbon credits - issued by the CDM Executive Board. The sales of CERs generate profit for project owners and project developers.
Myanmar Agri-Tech Carbon Capital Ltd. (MAGT-CC) was established in 2007 with the aim of implementing CDM projects in Myanmar. The first of its kind in Myanmar, MAGT-CC aims to be the leading and most efficient company in this field. Myanmar, as a developing country, has great potential for the implementation of CDM projects. Working in close cooperation with experienced and established Carbon Capital companies, MAGT-CC hopes to earn CERs by implementing GHG reduction projects in the country, especially in the sectors of Energy, Waste Handling and Disposal, Aforestation and Reforestation, and Energy Distribution.