The objective of this Technical Cooperation (TC) is to assess the constraints, challenges and identify opportunities to support the seven IDB member countries that share the Amazon region –in engaging in regulated carbon markets in a way that does not seek marginal, short-term emissions reductions but transformation change using a package of solutions or policy mix while ensuring consistency with Article 6 of the Paris Agreement (PA), without negatively affecting their emission reduction targets set in their Nationally Determined Contributions (NDCs). As part of the efforts to reduce deforestation and land-use related carbon emissions and or carbon removals, this TC will also explore and help identify projects in the Amazon region that generate or could generate carbon credits that in the absence of the financial additionality of carbon credit revenues would otherwise not be viable and that need to be complemented with a diverse arrange of interventions to deliver the expected results.
Project Detail
Country
Regional
Project Number
RG-T4585
Approval Date
-
Project Status
Preparation
Project Type
Technical Cooperation
Sector
FINANCIAL MARKETS
Subsector
FINANCING FOR ENVIRONMENTAL SUSTAINABILITY
Lending Instrument
-
Lending Instrument Code
-
Modality
-
Facility Type
-
Environmental and Social Impact Category (ESIC)
-
Total Cost
USD 3,000,000.00
Country Counterpart Financing
-
Original Amount Approved
USD 1,500,000.00