(BN) World Bank Seeks to Raise $100 Million for CO2 Markets (Update1)


World Bank Seeks to Raise $100 Million for CO2 Markets (Update1)
2010-12-08 21:32:00.196 GMT

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By Mathew Carr
Dec. 8 (Bloomberg) -- The World Bank initiated a
partnership with nations to raise $100 million for the
investigation of new carbon markets, speeding climate
protection, said bank President Robert Zoellick.
Participants include the U.S., which will contribute $5
million, said Billy Pizer, a deputy assistant secretary in the
U.S. Treasury Department, at climate talks in Cancun, Mexico. At
least $30 million has been raised for the partnership, said
Joelle Chassard, manager of the bank's Carbon Finance Unit.
Today's launch of the initiative was attended by
representatives of the European Union, Japan, Indonesia,
Australia and South Africa. The European Commission will
contribute 5 million euros ($6.3 million) to the partnership,
said Peter Wehrheim, a commission climate official.

For Related News and Information:
EU carbon-market stories: TNI EU ENVMARKET <GO>
Top energy news: ETOP <GO>,
Top environmental stories: GREEN <GO>

--Editors: Charlotte Porter, Richard Stubbe

To contact the reporter on this story:
Mathew Carr in London at +44-20-7073-3531 or

To contact the editor responsible for this story:
Stephen Voss at +44-20-7073-3520 or sev@bloomberg.net