The carbon market initiative CMI is one of the Asian Development Bank's ADB new initiatives under its clean energy and environment programme. The main aim of CMI is to help developing member countries benefit from market-based instruments under the Kyoto Protocol to promote sustainable development. Most of the existing carbon procurement funds provide payment only upon project completion and when the carbon credits are delivered. As a result, many clean energy projects face a critical upfront financing gap that prevents them from being undertaken in the first place. The ADB is trying to address these barriers. FinanceAsia talks to Toru Kubo, senior clean energy and climate change specialist in the sustainable infrastructure division of...
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