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Photo credit: Pilot Auction Facility

Nominee:

World Bank

Initiative:

Pilot Auction Facility for Methane

Region:

Global

Pollutants targeted: Methane

 

About

The World Bank's Pilot Auction Facility for Methane is an innovative finance mechanism to stimulate investment in projects that reduce greenhouse gas emissions while maximizing the impact of public funds and leveraging private sector financing. Its results-based payment mechanism sets a floor price for future carbon credits in the form of a tradeable put options that are competitively allocated via auctions. The first two methane auctions allocated $41 million with the potential to reduce 14.4M tons of emission reductions.   

Website:

www.pilotauctionfacility.org

 

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