UNEP and Standard Bank Announce Launch of The Africa Carbon Asset Development Facility
22 October 2009: The UN Environment Programme (UNEP) and Standard Bank announced the launch of The Africa Carbon Asset Development (ACAD) Facility at the UNEP Finance Initiative Global Roundtable, which is part of the “Green Week” activities in Cape Town, South Africa.
The ACAD Facility is a public-private partnership between UNEP and African banks that aims to stimulate the growth of Africa's carbon market through investor outreach and seed capital. The innovative initiative is supported by the German Government's International Climate Initiative. ACAD will offer three separate and complementary support lines: transaction cost sharing; technical assistance to project developers; and outreach and training for financial institutions. [UNEP Risø]