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.
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.
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