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ADB sets up carbon fund

June 2007

A fund has been set up by the Asian Development Bank to enable companies to buy carbon credits when they start clean energy projects. The fund will provide the money for up to half of the certified emission reductions that are expected to be generated by a project.

Participants, including Luxembourg, Spain, Sweden and Switzerland, have so far put $85million (£43m) into the fund, but other countries intend to contribute before the investment deadline at the end of June, pushing the total past $120m.

WooChong Um, director in charge of clean energy programmes within the bank’s regional and sustainable development department, said: ‘We are excited that with the active contributions by the four member countries so far, the fund can now become operational.’


Further Information
http://www.adb.org/ero
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