Funding Organization: Carbon Market Institute (CMI)

PROFILE

Total Amount USD 152 million (Asia Pacific Carbon Fund), USD 115 million (Future Carbon Fund), Technical Support Facility
Financing Mechanisms Carbon finance , Co-financing , Technical assistance
Qualifying Projects Mitigation, Energy , Energy Efficiency , Fugitive Methane , Low-Carbon , Renewable Energy , Waste Management
Eligibility Mitigation, Low-Carbon, Renewable energy, Energy efficiency

Funding Objectives

The main aim of CMI is to help developing member countries (DMCs) benefit from market-based instruments under the Kyoto Protocol to promote sustainable development, the principle at the base of Agenda 21.

Financing Mechanisms

  1. Upfront carbon financing through the Asian Pacific Carbon Fund (APCF) for carbon credits up to 2012.
  2. Upfront carbon financing through the Future Carbon Fund (FCF) for carbon credits beyond 2012 up to 2020.
  3. Technical Clean Development Mechanism (CDM) support through the Technical Support Facility .
  4. Marketing support for carbon credits through the Credit Marketing Facility (CMF).

Application Procedures

Project sponsors who wish to qualify for the CMI should liaise with the ADB staff from the relevant regional or private sector operations department. The project sponsor and concerned ADB staff will jointly fill out the CMI application form which may be requested from the CMI team, Energy, Transport, and Water Division of the Regional and Sustainable Development Department.

Project Types

These and other project types are eligible for funding under the program:

  • Renewable energy
  • Energy efficiency
  • Methane capture and utilization
Decision-making structure

All of the Fund investments are ultimately decided upon by the Fund Board of Directors who is charged with the responsibility for approving the terms and conditions of each Certified Emission Reduction Purchase Agreement (CERPA) to be executed by the Trustee, on behalf of the Fund. The Trustees select suitable projects, investigates their relative merits, negotiates transaction documentation, and makes recommendations to the Fund Board in relation to making co-financing investments. It undertakes these actions through a Fund Management Team.