ADB-Managed Carbon Fund to Begin Operations

Pledges worth more than USD100 million have been committed by the public sector to a new post-2012 carbon fund administered by the Asian Development Bank, stated. The fund, which will start operating in January, seeks to mobilize as much as USD200 million to back renewable energy, energy efficiency and other greenhouse gas mitigation projects carried out in ADB developing member countries. The regional lender is seeking further commitments from the private sector.

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