If you sit on Azza Street in Jerusalem sipping a latte in The Coffee Shop beside Bibi Netanyahu's bodyguards (he lives up the street), it's hard to believe that Israel is still classified as a developing nation. Using the definition to its advantage, Israel is making use of guidelines laid down in the Kyoto Protocol, which Israel signed and that allows industrialized countries with a greenhouse gas reduction commitment to invest in emission reducing projects in developing countries. Israel has decided to implement the Clean Development Mechanism [CDM] worldwide standard, the Jerusalem Post, reports and last month approved three new projects to reduce greenhouse gases.The Protocol that classifies Israel as a developing nation will allow Israeli entrepreneurs to develop technologies that reduce greenhouse gas emissions and enable them to sell "the reduction percentage" to developed nations such as Germany, Japan and Canada.
Recent projects approved, writes the JPost, includes a gas collecting facility at a municipal waste dump; a project that will turns agricultural waste into compost at a Kibbutz; and a project expected to reduce nitrous oxide fumes at a chemical factory.
Estimates say that there would be a150,000 metric ton CO2 equivalent per annum reduction in carbon emissions from these 3 projects. And entrepreneurs should reap NIS 5 million every year for emissions trade. Plus they will be able to file patents with the United Nations Environment Program. ::Jerusalem Post