Transformative Carbon Asset Facility : World bank initiative
Q. Which of the following statements is/are correct about Transformative Carbon Asset Facility?
1. It will help developing countries pay for emission reductions and combat climate change.
2. It is launched by UN.- Published on 08 Dec 15a. Only 1
b. Only 2
c. Both
d. None
ANSWER: Only 1
- It is a $500 million dollars initiative launched by World bank.
- It is a market-based scheme designed to help developing countries pay for emission reductions and combat climate change.
- Germany, Norway, Sweden and Switzerland have jointly pledged an initial $250 million to get the Transformative Carbon Asset Facility (TCAF).
- The facility will contribute to helping countries implement their emission reduction plans - called Intended Nationally Determined Contributions (INDCs).
