Expression of Interest For Support For Emission Reduction National Registry And Mrv System

Expression of Interest are invited for Support for Emission Reduction National Registry and MRV System Countries around the world are looking for new and more efficient ways of reducing GHG emissions to meet their Nationally Determined Contributions (NDC) agreed under the Paris Agreement. The Transformative Carbon Asset Facility (TCAF), a trust fund managed by the World Bank (WB), is a hybrid results-based climate finance (RBCF)/carbon market facility to support development and implementation of sectoral or policy mitigation programs in developing countries through payments for verified emission reductions. TCAF aims to develop and pilot large scale and innovative crediting programs, providing blueprints for efficient and low-cost mitigation that can be replicated globally. The Innovative Carbon Resource Application for Energy Transition Project for Uzbekistan (iCRAFT), signed between TCAF and the Government of Uzbekistan (GoU), is the World Banks first policy crediting program. Through a $46.25 million grant, iCRAFT aims to create incentives for energy subsidy reforms that will result in lower energy consumption and GHG emissions. The program will assign value to, and credit for, the implementation and enforcement of policies that foster emission reductions in the energy sector. Specifically, the program will help generating carbon emission reduction credits that can be sold in international carbon markets. iCRAFT will be the first international carbon market initiative in Uzbekistan and Central Asia under the Article 6 of the Paris Agreement. Until 2028, iCRAFT will disburse result-based payments to reward energy subsidy reforms that achieve specific emissions reductions. Projections suggest that Uzbekistan could reduce around 60 million metric tons of CO2 over the life cycle of iCRAFT, of which the project will make payment for approximately 2-2.5 million metric tons of CO2. Uzbekistan will be able to sell the remaining emissions reductions in international carbon markets using the systems and processes developed and tested under the project. Tender Link : https://wbgeprocure-rfxnow.worldbank.org/rfxnow/public/advertisement/index.html