The World Bank ( plc ) has launched a $ 500 m carbon market scheme called the Transformative Carbon Asset Facility ( TCAF ) , in order to help developing countries offset their carbon emissions and tackle climate change . So far Germany , Sweden , Norway and Switzerland have pledged a combined total of $ 500 m towards the TCAF and the WB hopes further contributions will increase the total to $ 500 m before the scheme is implemented next year . According to the WB , the price per tonne of carbon emissions would be calculated on a case - by - case basis , and will reward developing countries for reducing their emissions , thereby supporting new projects such as new renewable energy facilities , energy efficiency methods and waste management schemes .
The World Bank (WB) has launched a $500m carbon market scheme called the Transformative Carbon Asset Facility (TCAF), in order to help developing countries offset their carbon emissions and tackle climate change. So far Germany, Sweden, Norway and Switzerland have pledged a combined total of $250m towards the TCAF and the WB hopes further contributions will bring the total to $500m before the scheme is implemented next year. According to the WB, the price per tonne of carbon emissions would be set on a case-by-case basis, and will reward developing countries for reducing their emissions, thereby supporting new projects such as new renewable energy facilities, energy efficiency methods and waste management schemes.