Carbon Trading Preparation Market Implementation (PMI)

PROJECT OBJECTIVE

The Partnership for Market Implementation (PMI) assists countries to design, pilot, and implement pricing instruments aligned with their development priorities. A 10-year program with a capitalization target of US$250 million, the Partnership brings an ambitious and long-term vision for the viability of carbon markets to its support for programs and policies -- across jurisdictions and sectors -- that  introduce a strong price signal on carbon emissions and contribute to the Paris Agreement goal of limiting temperature rise to 1.5°C.

From Readiness : PMI is the successor program to the World Bank’s successful Partnership for Market Readiness (PMR) effort that, from 2011 to 2021, supported emerging economies and developing countries to design and deploy carbon pricing and market instruments to facilitate the reduction of emissions. PMR provided funding and technical assistance to 23 countries, accounting for 46% of global greenhouse gas emissions, all of whom now have the basic nuts and bolts for establishing a carbon pricing system.

To Implementation : PMI responds to the increased demand for carbon pricing implementation support from countries. Over half --69 of 195 countries -- have indicated that they are planning or considering the use of carbon pricing to meet their Nationally Determined Contributions (NDCs).

The Partnership launched in 2021 to help countries embarking on carbon pricing to move from readiness to rollout.