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Carbon Finance in the East Asia and Pacific Region



INTRODUCTION


The World Bank supports developing countries in East Asia that are facing the challenge of climate change. Most countries in East Asia and the Pacific are working on ways to reduce their use of fossil fuels and to strengthen their resilience to climate induced disasters. Both the public and private sectors in East Asia have made great progress in taking advantage of the carbon market to raise financing for crucial projects. We in the World Bank are proud to have been part of the development of the carbon market in East Asia from the very beginning.

The World Bank’s funds and facilities continue to pioneer the carbon market, increasing the scale, scope and duration of carbon finance. The East Asia and Pacific region’s carbon finance portfolio today has a value of approximately $1.3 billion, accounting for 71% of the World Bank’s entire carbon finance portfolio. The focus in our carbon finance operations is now on energy efficiency in power and industry, industrial gas emission reduction, waste management and reforestation.

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"In 2008, the World Bank’s carbon finance portfolio in East Asia and Pacific (EAP) increased to approximately 200 million tons of emission reductions. Carbon finance provides significant support to 45 environmentally-friendly projects that reduce greenhouse gas emissions throughout the East Asia and Pacific region. Carbon finance supports major investment programs and provides key technical assistance activities.

We also keep expanding our carbon finance operations to new areas such as transport and urban development. Clearly, carbon finance has become part and parcel of EAP’s development dialogue with our client countries. We are now preparing to fully integrate carbon finance and other climate and non-climate related funding sources into a support structure for clients seeking our help in addressing climate change."

–Jim Adams
Vice President
East Asia and Pacific Region
The World Bank

 


Related Links
Blog: Carbon finance in the East Asia and Pacific region
Twitter feed from Carbon Expo
 

Last updated: May 26, 2009