Resource information
The prototype carbon fund (PCF) is a
public-private partnership whose mission is to pioneer a
market for project-based greenhouse gas emission reductions
within the framework of the Kyoto protocol to the United
Nations Framework Convention on Climate Change (UNFCCC). PCF
seeks to show how project-based greenhouse gas emission
reduction transactions can lower the cost of compliance with
Kyoto, promote sustainable development, and mobilize new
resources for Bank clients. Recognizing the global
environmental benefits of emissions reductions regardless of
location, Kyoto allows industrialized countries and firms to
offset certain obligations through the purchase of
lower-cost emission reductions (ERs) in developing and
in-transition countries. This review identifies Bank
comparative advantage-related issues, as well as the issues
raised by competition between the Bank and International
Finance Corporation (IFC) in carbon finance.
