World Bank introducing new carbon finance initiatives in DurbanDec 6Side events:

> The World Bank’s Carbon Finance Unit will be hosting two events on December 6, 2011 at COP 17 in Durban to which you are welcome: >
> * 9.00-11.00 am, Africa Pavilion: Making Carbon Markets Work for the Poor – introducing two new carbon finance initiatives >
> The World Bank is pleased to invite delegates at COP17 to an event moderated by Rachel Kyte, Vice President of the World Bank’s Sustainable Development Department, highlighting two new initiatives that focus on expanding the reach of carbon finance to the poorest countries:
> -The BioCarbon Fund Tranche 3 (BioCF T3) will expand the piloting work of the BioCarbon Fund in the afforestation/reforestation, project-level REDD+ and soil carbon sectors.
> -The Carbon Initiative for Development (Ci-Dev) will support poor countries in accessing the carbon markets to finance low-carbon investments with a focus in energy access. >
> Attendance by senior officials from both public and private sector. >
> * 18-19.15, EU Pavilion, Warsaw Room – The Partnership for Market Readiness: Shaping the next generation of carbon markets to support green growth >
> Launched a year ago, the PMR is a forum for knowledge sharing and innovation of market-based solutions to mitigation. It provides grant financing to help countries design, pilot and implement carbon markets in order to their achieve mitigation and development goals. This session, moderated by World Bank Special Envoy for Climate Change Andrew Steer and with opening remarks by Connie Hedegaard, European Commissioner for Climate Action, will update on the work of the PMR in its first year, including providing an overview of participating countries’ planned PMR activities in preparing for national or sub-national carbon market instruments. >
> Attendance by senior officials from a number of member countries, including Australia, Brazil, China, Denmark, Mexico and South Africa. >

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