Sindicatum wins multiple energy awards
Singapore, 16 November 2012. Sindicatum Sustainable Resources Group won the prestigious Energy Institute ‘Energy Excellence’ Award for its Duerping Project in China. The awards were announced and presented at a ceremony in London on 15 November 2012. The Energy Institute Awards’ panel of judges shortlisted entries with “Originality of concept, and application and/or results of project”, “Setting an energy industry standard”, and “Clear demonstration of the benefits to the end user and/or target audience”. Sindicatum’s Duerping Project was designed to optimise energy recovery from waste gas extracted from a coal mine that was previously vented to the atmosphere. Sindicatum competed with GlaxoSmithKline, the UK’s National Grid and others.
In addition, Sindicatum has won the coveted Commodity Business Award for Excellence in Renewable Energy Markets. Sindicatum also won special commendations for Excellence in Emission Markets as well as for Excellence in Policy and Advisory. The awards were announced and presented at a ceremony in London on 6 November 2012. The Commodity Business Awards shortlisted companies “which have excelled in the last 12 months and shown leadership in developing renewable energy markets.” Sindicatum competed with EDF, Morgan Stanley, Thomson Reuters Point Carbon and many others.
Sindicatum Group CEO, Assaad W. Razzouk said: “We are delighted to have won these prestigious awards, all of which showcase the renewable energy projects developed by Sindicatum under the Clean Development Mechanism (CDM) as one of the most tangible and successful examples of industry’s response to climate change.
Razzouk continued: “We hope that our continuing accomplishments raise awareness about the current plight of the CDM, the world’s foremost project-based environmental market mechanism. The CDM has been very successful in delivering least cost abatement, and channeling over 215 billions of dollars of support to clean energy projects in the developing world. Inexplicably, there is a real chance Governments will allow the CDM to fail (as evidenced by the current price of carbon). This will cause the world to lose a valuable, successful and large-scale environmental market mechanism. In the absence of a strong carbon price signal, the CDM and other initiatives (such as policy-based energy efficiency interventions and renewable energy targets) won’t reduce emissions sufficiently to have any chance of keeping global warming below 2⁰C. International investors want to play their full role in combating climate change, the world’s foremost existential issue, but cannot unless policy makers and politicians revive the CDM by creating additional demand for its currency”.
About Sindicatum Sustainable Resources Group
Sindicatum develops, finances, builds and operates projects that reduce greenhouse gases and produce sustainable resources (clean energy, biogas, biomass, water and physical commodities) and emission reductions and other environmental commodities. Sindicatum has developed a global portfolio of projects on a principal basis and established and grown business units in Bangkok, Beijing, Jakarta, Manila, New Delhi, Singapore, Taiyuan (Shanxi Province, China) and Washington D.C. Sindicatum has to date committed more than $250m to greenhouse gas reduction and sustainability projects, 90% of which are in Asia.
Sindicatum is as a leading member of the Project Developer Forum, the Carbon Markets & Investors Association – industry associations representing companies that invest in, and provide enabling support to activities that reduce emissions – and the Association for Sustainable & Responsible Investment in Asia – a not-for-profit membership association dedicated to promoting sustainable finance and responsible investment.