The Black Carbon Finance Study Group (BCFSG), led by the World Bank Group and United Nations Environment Programme’s Finance Initiative with support from the CCAC, investigated ways to scale up financing and investments for black carbon mitigation. Its new report identifies existing funds and potential financial mechanisms that could attract more funding and outlines strategies for scaling up in future.
The BCFSG, comprised of 30-40 experts with backgrounds in operations, policy, science and finance, began its working sessions in June 2014. Their main mission was to identify priority sectors to focus on, key investment opportunities, and the potential financing mechanisms to lower black carbon emissions.
As a result, two black carbon intense sectors (domestic cooking and heavy diesel) were recognized as mature enough to attract public and private sector financing, and had sufficient performance standards to measure progress. While it was not in the working group’s mandate to identify performance metrics they determined that having clear ways of measuring black carbon abatement is crucial to attract funding.