# $500 million Transformative Carbon Asset Facility was launch by World Bank [ Current News (Concise) ] ()$500 million dollars Transformative Carbon Asset Facility (TCAF) has launched by the World Bank to help developing countries pay for emission reductions and combat climate change as decided in COP 21. It is market-based scheme specially designed to help developing countries for development of technologies which will helps to reduce climate and also establish the world’s first programmatic carbon market.

Key facts:

• According to this scheme developing countries will be rewarded with this amount in order to reduce emissions by paying a fee for each tons of carbon dioxide (CO2) reduced.
• Future Nationally Determined Contributions (INDCs) will implemented by countries with the help of TCAF.
• Germany, Norway, Sweden and Switzerland have jointly provided an initial 250 million dollars investment total of \$500.
• Renewable energy, energy efficiency and waste management projects are implemented using this scheme.
• And also to reduce emissions in cities and from the transport sector this will be very helpful.