The general objective of this non-reimbursable Technical Cooperation (TC) is to generate knowledge and assess opportunities of regulated carbon markets in the seven member countries of the Inter-American Development bank (IDB) that share the Amazon region to support their efforts to reduce green-house gas emissions. This TC will assess constraints, challenges, and opportunities to implement policies, regulatory frameworks and market infrastructure for regulated domestic and international carbon markets. These activities are expected to complement other solutions to foster transformative changes for reducing emissions and contribute to sustainable development in these countries. To reduce the effects of climate change, the world needs to achieve net-zero carbon emissions by mid-century, implying a transformational shift towards new, clean technologies, including sustainable land-use related practices and systemic changes ahead. Therefore, it is crucial to ensure that actions today align with such long-term required goals by mid-century.
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