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Carbon Clear found private investment, developing a carbon credit project that is funded through carbon finance.
According to New Carbon Finance, a research company, carbon funds worth $11.8 billion have been raised so far.
UK-based Carbon Clear, working with an NGO called Practical Action, has developed the project with carbon finance.
Last year, after the price of European allowances plunged, New Carbon Finance, a research firm, and Cantor CO2e, a brokerage, surveyed 452 participants in the ETS.
"Carbon pricing is an efficient, necessary way of reducing emissions," said Vikram Widge, head of climate and carbon finance at the World Bank's climate change group.
In each LCEGS area the UK has a global share of between 3.2-3.8 3.2-3.8 carbon finance we have a global share of 11.7%.
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Most are dependent on money being made available from carbon financing via the Green Climate Fund.
It will also provide a common way to measure and report on the greenhouse gas emissions of cities, easing access to carbon financing, he said.
Carbon financing, the compensation of forest dwellers for pursuing sustainable industries, would provide an added incentive, which is vital given the uncertain markets for natural rubber and other non-timber forest products.
Market-based ecosystem payments, especially carbon financing, are potential tools to prevent further forest loss in China.
Given the impressive carbon sequestration and storage in coastal ecosystems, many countries with blue carbon resources are beginning to implement blue carbon restoration projects using carbon financing mechanisms.
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