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About The Netherlands European Carbon Facility (NECF)
Introduction
The Netherlands, acting through its Ministry of Economic Affairs, the World Bank and the International Finance Corporation (IFC) in August 2004, signed an agreement appointing the World Bank and the IFC as Trustees of the Netherlands European Carbon Facility, in order to purchase greenhouse gas emission reductions for the benefit of the Netherlands. The Facility purchases emission reductions from JI projects only, i.e. from projects located in countries with economies in transition.
The Facility plans to purchase 10 million tons of greenhouse gas emission reductions. The Facility will stimulate private capital flows for sustainable development and enhance participants’ knowledge of Joint Implementation and carbon finance as a tool to reduce the costs of implementing Kyoto obligations. The Facility is related to the World Bank’s work in the areas of environment (markets for global public goods, mitigation of climate change, sustainable livelihoods), energy (renewable energy, energy efficiency, modernization) and urban infrastructure (waste management, district heating systems).
The Facility will also support actions undertaken by the World Bank in a number of Central and Eastern European countries as part of the Bank’s Country Assistance Strategy (CAS), including development & dissemination of clean energy technologies, innovative financing mechanisms, internalization of environmental costs, use of environmental impact assessment procedures, and dissemination of best practice on environmentally sound technologies.
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