About
The Carbon Initiative for Development (Ci-Dev) is a World Bank climate protection fund, in which the Climate Cent Foundation has held a stake of 23 million USD since 2014. The fund also numbers the governments of Great Britain and Sweden among its investors and is endowed with around 110 million USD in total. It funds climate protection projects in little-developed countries, especially in Africa, focussing mostly on improving access to renewable energy.
A climate protection fund is a procurement scheme for the purchase of project-based certificates. The sourcing of certificates is handled by the fund operator, who concludes direct purchase agreements with the owners of climate protection projects. The resulting certificates are distributed to fund participants according to their respective investment share.
Outcome
The fund signed agreements with 13 programmes, four of which were terminated until the end of June 2022. The nine successful programmes still in operation cover the fields of biogas use by private households, solar energy, improved cook stoves, small-scale hydropower and rural electrification. They are located in Ethiopia, Burkina Faso, Kenya, Madagascar, Mali, Uganda and Laos. All programmes display innovative business models.
Until June 2022, the Climate Cent Foundation received delivery of 92’827 CERs from four of the programmes at an average price of USD 10.15 per certificate (not including transaction costs). For more information see this Link
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