Contact: Katie Kouchakji, kouchakji@ieta.org

GENEVA, 17 July – Commenting on the successful first reverse-auction of carbon credits held by the World Bank’s Pilot Auction Facility (PAF), IETA’s CEO and President Dirk Forrister says:

“We are pleased to see that the first auction by the PAF was a success.  This innovation offers a fresh approach to public-private partnerships as well as providing a lift to the Clean Development Mechanism, helping keep emissions-reducing projects to move forward in choppy economic times.

"The PAF shows a practical way that targeted government funds can leverage larger amounts of private money - by reducing risks, it boosts investor confidence and mobilises capital to the climate challenge."

"In the future, the world needs to see further collaboration between the public and private sectors. The PAF’s model deserves a close look by other climate finance institutions, such as the UN’s Green Climate Fund.”

The winning bidders included Amsterdam Capital Trading and BP Energy Asia. The full auction results and list of winning bidders is available on the PAF website.