|Policy Type:||Economic Instruments>Market-based instruments|
|Climate Change Description:|
On June 27 2002, at their meeting in Haugesund, Norway, the energy ministers of the Nordic countries (Denmark, Finland, Iceland, Norway and Sweden) decided to establish a Testing Ground Facility which will invest in Joint Implementation projects. The investment facility will act to initiate and develop projects aimed at reducing carbon dioxide emissions from the energy sector in the Baltic Sea Region. The Testing Ground Facility will amount to at least €10 million and will be established from contributions by the Nordic countries. Other investors in the region are also invited to participate. This fund will become operational once three countries have signed up. The Testing Ground Facility will be principally based on a proposal put forward by NEFCO (the Nordic Environment Finance Corporation). This proposal is to be refined by the Climate Change Group of the Nordic Council of Ministers in close co-operation with the BASREC (Baltic Sea Region Energy Co-operation) Ad Hoc Group on Climate Change.
|This record is superseded by:||Regional Testing Ground Agreement for Flexible Mechanisms|
|This record supersedes:||Danish Joint Implementation Pilot Program|
Last modified: Thu, 14 Mar 2013 12:43:44 CET