| Project Detail |
Project Development Objective(s)
Proposed Development Objective(s)
To help Sri Lanka develop capacities and systems to: (a) implement national climate change
policies, strategies and actions; and (b) design or strengthen market/non-market mitigation
instruments.
Key Results
Preparation Phase:
i) A qualified Market Readiness Proposal prepared;
Implementation Phase:
i) National Monitoring, Reporting, and Verification (MRV) and registry systems for Greenhouse
Gases designed and established;
ii) Capacity to implement domestic carbon market and its supporting instruments and infrastructure
improved; and
iii) Domestic carbon market and its supporting instruments such as Sri Lanka Carbon Offset Scheme
strengthened.
III. Preliminary Description
Concept Description
The project will be supported by multilateral trust funds in order to achieve PDOs including the
Partnership for Market Readiness, a grant-based, capacity building multi-donor trust fund that
provides funding and technical assistance for the collective innovationand piloting of market-based
instruments for Greenhouse Gas (GHG) emissions reduction. Additional funding sources will be
identified as needed.
The Partnership for Market Readiness (PMR), which was launched in December 2010 and became
operational in April 2011, provides support to prepare and implement climate change mitigation
policies, including carbon pricing instruments in order to scale up GHG mitigation. The PMR also
serve as platform to share lessons, countries work together to shape the future of cost-effective GHG
mitigation. Implementing Country Participants use PMR resources to support the design,
development, and piloting of instruments to price carbon and/or create a carbon market. Some
countries are ready to design the instruments themselves, others are at a stage of capacity building.
The PMR consists of three phases: i) Expression of Interest (EOI) and Organizational Framework
Phase; ii) Preparation Phase; and iii) Implementation Phase. At the EOI Phase, a country submits an
EoI to the PMR Secretariat, which is subsequently presented to the PA for confirmation as an |
