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MDG Carbon Facility Set to Launch First Projects

Undp_logoThe UN Development Programme (UNDP) has announced an agreement with financial services group Fortis to launch the first projects of the MDG Carbon Facility.

Three methane capture projects located in Uzbekistan, Macedonia, and Yemen, and a renewable energy project in Rwanda, will aim to use financing from carbon credits to benefit the environment, as well as to further economic and social development.

“The MDG Carbon Facility enables us to do two things at once: Support sustainable development at ground level and also make a real contribution to worldwide efforts to mitigate emissions,” said Olav Kjørven, UNDP Assistant Administrator and a member of UN Secretary-General Ban Ki-moon's Climate Change Team. The partnership between UNDP and Fortis covers an initial pipeline of projects that will generate 15 million carbon credits during the Kyoto Protocol's first commitment period (2008-2012).

 

UNDP press release, 21 February 2008

MDG Carbon Facility website