Overview
The Partnership for Market Implementation (PMI) assists countries in the acceleration of global decarbonization by designing, piloting, and implementing carbon pricing instruments aligned with their development priorities. It has two overarching objectives: a) assist client countries design and deploy carbon pricing policies appropriate to their domestic context; b) and catalyze the development of the next generation of international carbon markets. Launched in 2021 and envisaged as a 10-year program with a capitalization target of US$250 million, the PMI is already rolling out support for more than 35 countries
Vision
One-stop shop and best-in-class capacity building and innovation on carbon pricing and Paris-aligned carbon markets, and deliver cutting-edge analytics and data in this area.
Mission
To support countries in emerging market and developing economies (EMDEs) in their carbon pricing and carbon markets goals, bringing in south to south and north to south knowledge and learning.
Strategy
To deliver efficiently and expediently, working hand-in-hand with our in-country WB delivery teams, and with our knowledge and technical partners to leverage synergies, so the whole can be bigger than the sum of the parts.
The PMI comprises the anchor program, the Compact with Africa – Green Business Fund (CwA-GBF) associate trust fund, as well as the various other programs and initiatives - Carbon Pricing Leadership Coalition (CPLC), Climate Warehouse and Networked Carbon Markets (NCM), and Innovate4Climate (I4C).
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.
The Partnership will:
- Support 30 countries and jurisdictions in the development and implementation of carbon pricing instruments to meet their NDC targets and long-term decarbonization strategies.
- Help countries participate in the operationalization of Article 6 of the Paris Agreement, which would facilitate international cooperation on carbon markets and promote the convergence of national carbon pricing instruments.
- Help countries identify and implement best practice approaches and, where relevant, help them achieve compatibility in design with other carbon pricing efforts and markets.
- Inform the national and international policy discussions on greenhouse gas mitigation by sharing lessons learned and by providing a platform for collective innovation on carbon pricing instruments.
- Develop a comprehensive knowledge base on carbon pricing instruments and market mechanisms, and facilitate information exchange through technical discussions and dissemination of knowledge products
Donors
Australia
Canada
European Commission
Finland
Germany
Japan
Norway
Spain
Sweden
Switzerland
United Kingdom