Friday 17 November 2006

World Bank Urges More Carbon Finance for Africa

World Bank carbon markets coordinator Karan Capoor criticised large carbon brokers for failing to invest in projects that help the poorest people in Africa.

Most large carbon finance transactions in the developing world have focused on India and China, and those that have taken place in Africa have focused on South Africa and Egypt.

Said Capoor: "We believe this unnecessarily penalises the poorest people in the poorest countries in the world, and we would urge policymakers to look at that..."