Work begins on setting up a Mediterranean Carbon Fund

Work begins on setting up a Mediterranean Carbon Fund

(...) The initiative, designed to support deployment of climate friendly projects around the Mediterranean, has been launched within the scope of the Union for the Mediterranean (UfM). It will provide expertise on the country-level and additional financing to projects developed in southern and eastern Mediterranean. The MCF will use carbon credits generated under the Clean Development Mechanism (CDM), covering renewable energy, waste management and energy efficiency projects. Consistent with the 2008 European Union climate and energy package, these credits can be created until 2020.(...)