The Inter-American Development Bank wants to give the Americas greater access to carbon markets and they’re now one step closer to doing so with their new $50 million dollar MicroCarbon Development Fund, a vehicle to invest in residential and municipal energy efficiency programs across central and South America.
The Fund will invest in 6-10 multi-million dollar projects that earn carbon credits under the Clean Development Mechanism (CDM) of the United Nations’ Kyoto Protocol and other carbon standards.
“Access to carbon markets and energy efficient technologies has been closed to all but the largest investors in Latin America and the Caribbean.The MicroCarbon Development Fund is a truly innovative way to spread the benefits of energy efficiency and carbon finance to lower income households, microenterprises, small companies and forest communities, while combating climate change,” said General Manager Julie T. Katzman in the press release.
The Fund will invest in lighting, forestry, residential, and other types of initiatives and anticipates benefiting 10,000 households and 1,500 small and medium-sized enterprises in the next 10 years.
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