Regional : Supporting the Use of Carbon Financing from New Carbon Market Mechanisms to Promote Green Growth in Asia and the Pacific
The proposed TA aims to build on this success and continue to support DMCs and ADB's operations departments through the technical support facility with special focus on bilateral mechanisms amidst the increasing complexity of carbon market schemes particularly during 2013 and 2017 before a new global framework is in place. The TA will complement ongoing RETA 8223: Supporting the Use of Carbon Financing to Promote Green Growth in Asia & the Pacific which supports the (i) development of CDM projects and (ii) facilitation of linkages among domestic ETS. RETA 8223 does not support new forms of international carbon market mechanisms that are expected to emerge after the first commitment period of the Kyoto Protocol, e.g., bilateral carbon market. Bilateral carbon market is an emerging mechanism which not only helps GHG mitigation projects through carbon credits but, also supports them with technology transfer, concessional finance and other financial support.
Project Details
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Project Officer
Duggal, Virender K.
Sustainable Development and Climate Change Department
Request for information -
Country/Economy
Regional -
Modality
-
Sector
- Energy
| Project Name | Supporting the Use of Carbon Financing from New Carbon Market Mechanisms to Promote Green Growth in Asia and the Pacific | ||||
| Project Number | 48142-001 | ||||
| Country / Economy | Regional |
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| Project Status | Closed | ||||
| Project Type / Modality of Assistance | Technical Assistance |
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| Source of Funding / Amount |
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| Strategic Agendas | Environmentally sustainable growth Inclusive economic growth Regional integration |
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| Drivers of Change | Knowledge solutions Partnerships |
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| Sector / Subsector |
Agriculture, natural resources and rural development / Forestry - Irrigation Energy / Energy efficiency and conservation - Energy sector development and institutional reform Transport / Transport policies and institutional development - Urban public transport |
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| Gender | No gender elements | ||||
| Description | The proposed TA aims to build on this success and continue to support DMCs and ADB's operations departments through the technical support facility with special focus on bilateral mechanisms amidst the increasing complexity of carbon market schemes particularly during 2013 and 2017 before a new global framework is in place. The TA will complement ongoing RETA 8223: Supporting the Use of Carbon Financing to Promote Green Growth in Asia & the Pacific which supports the (i) development of CDM projects and (ii) facilitation of linkages among domestic ETS. RETA 8223 does not support new forms of international carbon market mechanisms that are expected to emerge after the first commitment period of the Kyoto Protocol, e.g., bilateral carbon market. Bilateral carbon market is an emerging mechanism which not only helps GHG mitigation projects through carbon credits but, also supports them with technology transfer, concessional finance and other financial support. It may also be noted that in their formative years a lot of support will be needed in formulation of methodologies as well as Monitoring, Reporting and Verification (MRV) of GHGs. Hence, the requirements of bilateral mechanisms are quite different from the earlier carbon credit based mechanisms. The earlier TAs of TSF/CMP do not include ADB support to the development of bilateral mechanism projects. | ||||
| Project Rationale and Linkage to Country/Regional Strategy | The countries of Asia and the Pacific have a key role to play in addressing global climate change issues. Because of rapid economic growth, Asia and the Pacific is becoming a major source of greenhouse gas emissions, largely because of the rapidly increasing demand for energy. Emissions from energy production in Asia and the Pacific have grown by 194% since 1990. Business-as-usual projections by the International Energy Agency suggest that Asia's share in global greenhouse gas emissions could increase from 35% in 2009 to 46% by 2030, surpassing emissions from Organization for Economic Co-operation and Development countries. It is clear that decoupling the region's growth from carbon emissions is pivotal in the global efforts to mitigate climate change. | ||||
| Impact | The overall impact of the TA is to promote green growth and low carbon development in ADB's developing member countries of Asia and the Pacific. | ||||
| Project Outcome | |
|---|---|
| Description of Outcome | Increased DMC capacity on utilization of bilateral carbon market mechanisms |
| Progress Toward Outcome | |
| Implementation Progress | |
| Description of Project Outputs | 1. Capacity building activities for institutions and local experts on bilateral carbon market mechanisms 2. Direct project support under bilateral carbon market mechanisms 3. Knowledge sharing/products on new mechanisms, including bilateral and sectoral mechanisms conducted/produced |
| Status of Implementation Progress (Outputs, Activities, and Issues) | |
| Geographical Location | Regional |
| Summary of Environmental and Social Aspects | |
|---|---|
| Environmental Aspects | |
| Involuntary Resettlement | |
| Indigenous Peoples | |
| Stakeholder Communication, Participation, and Consultation | |
| During Project Design | |
| During Project Implementation | |
| Responsible ADB Officer | Duggal, Virender K. |
| Responsible ADB Department | Sustainable Development and Climate Change Department |
| Responsible ADB Division | SDCD* |
| Executing Agencies |
Asian Development Bank 6 ADB Avenue, Mandaluyong City 1550, Philippines |
| Timetable | |
|---|---|
| Concept Clearance | 09 Apr 2014 |
| Fact Finding | 19 May 2014 to 05 Jun 2014 |
| MRM | - |
| Approval | 23 May 2014 |
| Last Review Mission | - |
| Last PDS Update | 09 Apr 2014 |
TA 8654-REG
| Milestones | |||||
|---|---|---|---|---|---|
| Approval | Signing Date | Effectivity Date | Closing | ||
| Original | Revised | Actual | |||
| 23 May 2014 | - | 23 May 2014 | 31 May 2016 | 30 Sep 2016 | 31 Dec 2016 |
| Financing Plan/TA Utilization | Cumulative Disbursements | |||||||
|---|---|---|---|---|---|---|---|---|
| ADB | Cofinancing | Counterpart | Total | Date | Amount | |||
| Gov | Beneficiaries | Project Sponsor | Others | |||||
| 0.00 | 1,500,000.00 | 0.00 | 0.00 | 0.00 | 0.00 | 1,500,000.00 | 17 Jun 2022 | 844,280.53 |
Project Data Sheets (PDS) contain summary information on the project or program. Because the PDS is a work in progress, some information may not be included in its initial version but will be added as it becomes available. Information about proposed projects is tentative and indicative.
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| Title | Document Type | Document Date |
|---|---|---|
| Supporting the Use of Carbon Financing from New Carbon Market Mechanisms to Promote Green Growth in Asia and the Pacific: Technical Assistance Completion Report | TA Completion Reports | Mar 2017 |
| Supporting the Use of Carbon Financing from New Carbon Market Mechanisms to Promote Green Growth in Asia and the Pacific | Technical Assistance Reports | May 2014 |
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