The announced on Tuesday that to provide financial support to clean technology initiatives in the Asia Pacific region that will continue to generate carbon credits post 2012. The fund- called the Future Carbon Fund will initially be worth US $100 million, but may increase to $200 million depending upon the demand.
The fund has been set up to counter the uncertainty that is likely to afflict the credit market on expiration of the first commitment period on 31 December 2012 – which in turn would impede the development of eco-friendly initiatives in the Asian region. The Future Carbon Fund will complement that provides carbon financing, technical support and marketing support for carbon credits.
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