UNDP's turning into "Walls Street" ? All staffers excited about trading in carbon certificates...following the money$$ leads to Paribas BNP Fortis Bank !

www.mdgcarbonfacility.org

UNDP/MDG Carbon Facility

General Information

The MDG Carbon Facility is a UNDP initiative to leverage the considerable resources of the carbon markets to finance in-country sustainable development projects. UNDP anticipates developing a pipeline of approximately 36 Projects in order to generate the 15 million credit volume. The final number of Projects may vary, depending on their actual size.

Projects have not yet been selected, but rather will be identified on an ongoing basis over the two year project sourcing phase. For illustrative purposes, a typical project may have the following characteristics: The project may belong to a private sector entity, for example a private utility, or a public sector entity, for example a municipality.

The entity which has ownership to the Project’s credits is given the term project proponent (the “Project Proponent”); projects may utilize a broad variety of technologies. Example technologies include renewable energies, energy efficiency, capture of methane, etc; projects may contribute directly to the MDGs, for instance through employment or health benefits, or indirectly through associated programs, where carbon finance proceeds are reinvested into the MDGs; projects result in significant investment flows into the country.

Implementation Period:

• From: 01 June 2008
• To: 01 June 2011

Participating Entity(-ies):

• UN Development Programme (UNDP)

Non-UN Partner(s):

• Fortis Bank

Region(s) Covered:

• Global/World

Website(s):

• www.mdgcarbonfacility.org

Focus Area(s):

• Mitigation
• Financing
• Capacity Building