Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/118015
Authors: 
Zhang, ZhongXiang
Year of Publication: 
2004
Series/Report no.: 
Nota di Lavoro, Fondazione Eni Enrico Mattei 138.2004
Abstract: 
As the first global carbon fund, the World Bank's Prototype Carbon Fund (PCF) aims to catalyze the market for project-based greenhouse gas emission reductions while promoting sustainable development and offering a learning-by-doing opportunity to its stakeholders. Since the inception in 2000, the PCF has engaged in a dialogue with China to get it to sign up as a host country, because the World Bank and other international and bilateral donors expect great potential of the clean development mechanism (CDM) in China and feel the significant need for building CDM capacity in China to enable it to gain more insight into the CDM and increase its capacity to initiate and undertake CDM projects. This paper first discusses why China had hesitated to sign up as a host country of PCF projects until September 2003. Then the paper explains what has led China to endorse the PCF projects. The paper ends with discussions on the implications of the PCF's offering prices for the emerging global carbon market.
Subjects: 
Carbon prices
Carbon market
China
Prototype Carbon Fund
The World Bank
JEL: 
Q54
Q58
Q52
Q48
Document Type: 
Working Paper

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