Carbon Initiative for Development
The Carbon Initiative for Development (Ci-Dev) is a World Bank trust fund that mobilizes private finance for clean energy access in low-income countries. It delivers results-based finance to innovative and transformative business models driven by the private sector. Through 2025, Ci-Dev will have mobilized more than $250 million in private finance to provide low-carbon energy to more than 10 million people in the communities most vulnerable to climate change.
Ci-Dev has committed to purchase approximately $76 million in emission reductions (commonly known as carbon credits) from 12 energy access projects, all in sub-Saharan Africa. The fund will utilize the Clean Development Mechanism (CDM) as the methodological framework to quantify, verify and certify the emission reductions. However, the CDM may not be relevant after 2020 as the Paris Agreement replaces the Kyoto framework, driving the need for the international community to explore other types of crediting mechanisms (such as the Standardized Crediting Framework) to channel climate finance to client countries.
What we do
Increasing Energy Access: The Ci-Dev provides financing for projects that support access to energy in low-income countries, in collaboration with other parts of the World Bank Group.
Piloting innovative Results-based Climate Finance (RBCF): The Ci-Dev use results-based payments as a vehicle for financing energy access projects building on a decade of carbon finance experience of the World Bank Group.
Building on the CDM: The Ci-Dev will build on the infrastructure that has been created by the Clean Development Mechanism (CDM).