Asian Development Bank Launches Carbon Credit Fund for Post-2012 Projects

摘要

The Asian Development Bank has established a fund that will use carbon credits generated beyond 2012 to finance clean energy projects in the Asia-Pacific region, the bank announced July 8. "The new fund offers an opportunity to take long-term action on climate change now," Ursula Schafer-Preuss, vice president of the Asian Development Bank, said in the announcement. The current regulatory framework, based on the Kyoto Protocol's first commitment period, expires on Dec. 31, 2012, hampering the trade of post-2012 carbon credits, the bank said. "Without long-term price incentives for reducing greenhouse gas emissions, investment trends could quickly return to business as usual," the bank's announcement said.