Prototype Carbon Fund
The PCF has followed three primary strategic objectives:
• High-Quality Emission Reductions: to show how project-based greenhouse gas Emission Reduction transactions can promote and contribute to sustainable development and lower the cost of compliance with Kyoto Protocol.
• Knowledge Dissemination: to provide the Parties to the UNFCCC, the private sector, and other interested parties with an opportunity to "learn-by-doing" in the development of policies, rules, and business processes for the achievement of Emission Reductions under CDM and JI.
• Public-Private Partnerships: to demonstrate how the World Bank can work in partnership with the public and private sectors to mobilize new resources for its borrowing member countries while addressing global environmental problems through market-based mechanisms.
CDM; Joint implementation.
Public and private entities
Eligible Projects or Programmes:
Fund shall finance projects and the participation in the UCF intended to achieve GHG Reductions in return for a) the exclusive right as against any third party, other than a person authorized under the regulatory framework of the UNFCCC and/or the Kyoto Protocol, to have an Independent Third Party certify the quality and quantity of any GHG Reductions generated by the Projects; and b) the right to have transferred to participants an agreed amount of any Emission Reductions generated.
a) Description of project proponent. b) Type of project. c) Location of project. d) Expected schedule. e) Financing sought. f) Technical summary of project. g) Expected environmental benefits.
Proposal evaluation criteria:
How to Apply:
1. Submit a project idea note. PIN reviewed by CF Unit of World Bank. If PIN is acceptable, sponsor notified with request to prepare Project concept note. 2. If PCN agreed by FMC (and Participants Committee if required), letter of intent is offered; further work is authorized. 3. Project Design Document prepared (a. Determine whether existing methodology is applicable b. may require baseline study). 4. Bank region begins technical, financial, environmental and social due dilligence. 5. CF Unit prepares term sheets and draft ERPA. 6. Project Due Diligence is completed and World Bank internal approvals are secured.