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UK Government to help developing countries lower their carbon emissions
The UK Government will help to support the World Bank's Partnership for Market Readiness, to help developing countries cut their carbon emissions.
This will allow more investment in green technologies across the world and help stimulate private sector low carbon investment opportunities.
The UK’s support joins financial contributions from the European Commission, Germany, Norway, Australia and the United States, and will help up to 15 developing countries to set up market-based policies including better international crediting systems and domestic trading schemes.
Energy and Climate Change Secretary Chris Huhne said: "Here in the UK, almost half of our emissions are managed through carbon trading which contributes to energy security, supports jobs and encourages private finance."
"The UK is contributing ￡7m to the World Bank, on top of that we will be offering developing countries our expertise in designing and running trading systems, such as our current collaboration with the Government of India on the design and implementation of their new energy efficiency trading system."
Further information:
DECC
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