What is the MDG Carbon Facility?
The MDG Carbon Facility is an innovative means of harnessing the vast resources of the carbon market in order to bring long-term sustainable development to a more diverse share of developing countries. Launched in June 2007 as a collaboration between UNDP and Fortis Bank, the Facility offers emission reduction projects a comprehensive “one-stop-shop” package of services. The Facility operates within the framework of the Clean Development Mechanism and Joint Implementation, the market-based mechanisms of the Kyoto Protocol that allow developed countries to meet their compliance targets by financing projects located in countries that contribute to reducing greenhouse gas emissions. As part of the Facility, UNDP provides technical assistance that helps project proponents in developing countries to conceive of projects that reduce greenhouse gas emissions, and ensures that these projects meet the Kyoto Protocol’s agreed standards while delivering benefits to the environment, the Millennium
The MDG Carbon Facility is an innovative means of harnessing the vast resources of the carbon market in order to bring long-term sustainable development to a more diverse share of developing countries. Launched in June 2007, the Facility offers emission reduction projects a comprehensive package of project development services. The Facility operates within the framework of the Clean Development Mechanism and Joint Implementation, the market-based mechanisms of the Kyoto Protocol that allow developed countries to meet their compliance targets by financing projects located in countries that contribute to reducing greenhouse gas emissions. As part of the Facility, UNDP provides technical assistance that helps project proponents in developing countries to conceive of projects that reduce greenhouse gas emissions, and ensures that these projects meet the Kyoto Protocol’s agreed standards while delivering benefits to the environment, the Millennium Development Goals, and broader human develo
