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The Carbon Finance Business (CFB) is intended to demonstrate how project-based transactions can channel additional public and private capital for development, promote the transfer of environmentally sound technology, reduce local pollution and provide Host Countries with an equitable share of the benefits resulting from these transactions.
In accordance with the Kyoto Protocol, all Projects will require prior Host Country approval. The CFB team has held discussions with representatives of countries with Economies in Transition and with developing countries. By signing a Memorandum of Understanding and/or a Letter of Endorsement (for a future CFB project), a potential Host Country is entitled to be a member of the Host Country Committee. The following table outlines those countries having signed an MoU or Letter of Endorsement and also those that are in the midst of preparations for doing so.
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* For these countries, participation is based on project endorsement. For the rest, it is initiated by a memorandum of understanding.
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