The Transformative Carbon Asset Facility will help developing countries implement their plans to cut emissions by working with them to create new classes of carbon assets associated with reduced greenhouse gas emission reductions, including those achieved through policy actions. The facility will measure and pay for emission cuts in large scale programs in areas like renewable energy, transport, energy efficiency, solid waste management, and low carbon cities.
Funds disbursement have not yet begun and is decided in coordination with the World Bank Global Practices and Country Management Units. A preliminary pipeline of 5-6 programs has been identified.
Initial commitment of USD 250 million (2016), and target of USD 500 million.