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Versione italiana
In fall 2003 the World Bank entered into an
agreement with the Ministry for the Environment
and Territory of Italy to create a fund to purchase
greenhouse gas emission reductions from projects
in developing countries and countries with
economies in transition that may be recognized
under such mechanisms as the Kyoto Protocol’s
CDM and JI.
The Italian Carbon Fund has an initial endowment
from Italy of US$15 million. This amount is expected
to increase over time, as the Fund will be
open to the subscription of Italian entities for 24
months from its constitution. The minimum
contribution from each additional participant is
set at US$1 million.
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A Diversified Approach
The project portfolio of the Italian Carbon Fund
will be fairly diversified with support being provided
to a wide range of technologies, including
carbon sequestration, and regions, including The People’s Republic of China, the Mediterranean Region, the Latin and Central America regions, as well as the Balkans and the Middle Eastern countries.
Italy has an ambitious emission reduction objective which would be difficult to achieve through domestic measures without an exorbitant investment. The Fund provides one alternative to obtaining emission reductions which may be used to help meet the Italian emission reduction target.
At the same time, the Italian Carbon Fund
will help developing countries achieve
sustainable development by leveraging
substantial investments in modern energy
services and technologies.
As with other carbon funds facilitated by
the World Bank, the income from payments
by the participants in the fund will
be held in a separate trust and used for
project identification and preparation
activities such as capacity-building,
outreach and research—thus leading to
the creation of supportive project approval
systems in host countries.
 Italian Carbon Fund Overview Document
Italian Carbon Fund Brochure (English and Italian versions)
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