Carbon fund could help developing countries



The Community Development Carbon Fund, which began operations on 25 July, could help developing countries gain financial support for small-scale greenhouse gas reduction projects.

The fund would allow industrialized countries to receive greenhouse gas emission reduction credits for projects they support in developing countries. Projects would be developed under the Clean Development Mechanism of the Kyoto Protocol, and emissions reductions would be transferable under various carbon market regulatory regimes, including those established under the protocol and by the European Union.