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The following article was published in our article directory on December 13, 2010.
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World Bank Established New Fund Assist Developing Countries In Carbon Trading

Article Category: Business Management

Author Name: Amanda xzh

December 9, at the United Nations Framework Convention on Climate Change held during Yue Kankun a launch ceremony, World Bank President Robert Zoellick announced the establishment of "market-ready Partner Fund."

The partnership has acquired Australia (1000 million), EU (500 million euros) and the United States (500 million) a total of 2000 million dollars in financial commitments, Norway had also committed 500 million U.S. dollars. In addition, Germany, Japan and the United Kingdom also expressed the intention to provide financial support initiatives.

The Partnership Fund is to raise one hundred million U.S. dollars in total, is expected to commence operation in early 2011 to support, including technical, policy and institutional interventions, including various carbon market readiness initiatives.

Zoellick pointed out: "This new partnership fund jointly developed and developing countries, will be ready to help countries to establish domestic trading system and the use of other market-based instruments to achieve national emission reduction targets. Developing countries to finance the search for market readiness The fact is that at the national level to actively promote evidence of climate response measures, these countries did not wait, they have this as part of their development goals. "

China, Chile, Indonesia, Mexico and other countries in exploring the use of the carbon market instruments and emissions trading mechanisms, as carbon emissions to encourage investment in the development of alternative technologies in a way. These countries over the past 10 years, based on the "Kyoto Protocol" under the clean development mechanism, sum up and absorb the lessons learned, according to local conditions according to national circumstances. For example, the Chilean government to explore the establishment of a domestic emissions trading system; Similarly, India is also actively building of renewable energy and energy efficiency certificate trading system.

In addition, China also joined the Partnership Fund. National Development and Reform Commission, said Xie Zhenhua, deputy director: "China has five cities and 8 provinces in the low-carbon economy pilot. China is ready to explore the use of domestic emissions trading system to reduce emissions is feasible. Market fund will be ready to partner provide timely support for this initiative. "

Announced to provide 10 million Australian dollars in donations, the Australian Minister for Climate Change and Energy Efficiency Kangbei Te said: "The vast and well-functioning carbon market will help in the fairest, most efficient and most economical way to reduce carbon pollution. Australia looks forward to with other partners in capacity building, establishment and expansion of the carbon market. "

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