10 Years of Experience in Carbon Finance: Insights from Working with the Kyoto Mechanisms

Marking the 10th anniversary of the establishment of the World Bank Prototype Carbon Fund (PCF), this activity report seeks to take stock of the World Bank’s experience of working with the Kyoto Protocol’s project-based mechanisms over the past decade. The Clean Development Mechanism, as the much larger system in terms of projects, emission reductions and host countries, is the basis for much of the report’s discussion. Joint Implementation is also discussed. The document provides insights and recommendations from a practitioner’s experience and perspective.