World Bank
The World Bank has created the World Bank Carbon Finance Unit (CFU). The World Bank CFU uses money contributed by governments and companies in OECD countries to purchase project-based greenhouse gas emission reductions in developing countries and countries with economies in transition. The emission reductions are purchased through one of the CFU's carbon funds on behalf of the contributor, and within the framework of the Kyoto Protocol's Clean Development Mechanism (CDM) or Joint Implementation (JI). The World Bank is particularly supportive of Program of Activities (PoA) development.
Read more about this topic: Carbon Finance
Famous quotes containing the words world and/or bank:
“The world proceeds from the same spirit as the body of man. It is a remoter and inferior incarnation of God, a projection of God in the unconscious.”
—Ralph Waldo Emerson (1803–1882)
“The English language is like a broad river on whose bank a few patient anglers are sitting, while, higher up, the stream is being polluted by a string of refuse-barges tipping out their muck.”
—Cyril Connolly (1903–1974)