World Bank Reduces Value Forecast From Its Carbon [Swindle] Credits - Bloomberg
The World Bank has reduced the number and value of credits it expects from its carbon funds as the International Energy Agency said fossil-fuel emissions are threatening the climate.
The volume of emission reductions estimated to come from signed agreements and projects in the pipeline as of 2010 fell 15 percent to 240 million metric tons of carbon dioxide equivalent, according to an annual report on the bank’s website. A year earlier, the bank expected cuts of 281 million tons. Pipeline credits fell 40 percent to 32 million tons.
The bank didn’t immediately explain why credits in the pipeline declined. The number of projects in the pipeline dropped 43 percent to 27 from 47 a year earlier.
It has about 12 funds in total, including the Umbrella Carbon Facility, the Community Development Carbon Fund, the Netherlands Clean Development Mechanism Facility and the Forest Carbon Partnership Facility.