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The World Bank’s Prototype Carbon Fund and China

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Author Info
ZhongXiang Zhang (Research Program, East-West Center)

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Abstract

As the first global carbon fund, the World Bank’s Prototype Carbon Fund (PCF) aims to catalyze the market for project-based greenhouse gas emission reductions while promoting sustainable development and offering a learning-by-doing opportunity to its stakeholders. Since the inception in 2000, the PCF has engaged in a dialogue with China to get it to sign up as a host country, because the World Bank and other international and bilateral donors expect great potential of the clean development mechanism (CDM) in China and feel the significant need for building CDM capacity in China to enable it to gain more insight into the CDM and increase its capacity to initiate and undertake CDM projects. This paper first discusses why China had hesitated to sign up as a host country of PCF projects until September 2003. Then the paper explains what has led China to endorse the PCF projects. The paper ends with discussions on the implications of the PCF’s offering prices for the emerging global carbon market.

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Paper provided by Fondazione Eni Enrico Mattei in its series Working Papers with number 2004.138.

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Date of creation: Nov 2004
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Handle: RePEc:fem:femwpa:2004.138

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Related research
Keywords: Carbon prices; Carbon market; China; Prototype Carbon Fund; The World Bank;

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Find related papers by JEL classification:
Q54 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Climate; Natural Disasters
Q58 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environmental Economics: Government Policy
Q52 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Pollution Control Costs; Distributional Effects; Employment Effects
Q48 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Government Policy

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References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Franck Lecocq, 2003. "Pioneering Transactions, Catalyzing Markets, and Building Capacity: The Prototype Carbon Fund Contributions to Climate Policies," American Journal of Agricultural Economics, American Agricultural Economics Association, vol. 85(3), pages 703-707, 08. [Downloadable!] (restricted)
  2. Zhang, ZhongXiang, 2004. "Meeting the Kyoto targets: the importance of developing country participation," Journal of Policy Modeling, Elsevier, vol. 26(1), pages 3-19, January. [Downloadable!] (restricted)
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  3. Zhang, ZhongXiang & Löschel, Andreas, 2002. "The Economic and Environmental Implications of the US Repudiation of the Kyoto Protocol and the Subsequent Deals in Bonn and Marrakech," ZEW Discussion Papers 02-28, ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research. [Downloadable!]
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  4. Zhang, ZhongXiang, 1999. "Estimating the size of the potential market for all three flexibility mechanisms under the Kyoto Protocol," MPRA Paper 13088, University Library of Munich, Germany. [Downloadable!]
  5. ZhongXiang Zhang, 2000. "Estimating the size of the potential market for the Kyoto flexibility mechanisms," Review of World Economics (Weltwirtschaftliches Archiv), Springer, vol. 136(3), pages 491-521, 09. [Downloadable!] (restricted)
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  6. Zhang, ZhongXiang, 2001. "An assessment of the EU proposal for ceilings on the use of Kyoto flexibility mechanisms," Ecological Economics, Elsevier, vol. 37(1), pages 53-69, April. [Downloadable!] (restricted)
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Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Zhang, ZhongXiang, 2008. "Is it fair to treat China as a Christmas tree to hang everybody’s complaints? Putting its own energy saving into perspective," MPRA Paper 12276, University Library of Munich, Germany. [Downloadable!]
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