ADB plans fund to promote clean energy

Keeping in mind shortage in carbon credits and increasing demand for them, the Asian Development Bank has decided to set up a fund this year that will support initiatives in developing countries to produce clean energy and, in turn, carbon credits.

The Carbon Market Initiative (CMI), which is in `consultation phase’, is expected to get funds from companies that might be required to buy carbon credits under the Kyoto Protocol. The fund willbe ready by year-end.

Hindu Business Line