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Going, Going, Gone–Timeline of an Innovative Auction That Aims to Reduce Methane Emissions
22 July 2015
Benjamin Chee and Dr. Chantale LaCasse
The Pilot Auction Facility for Methane and Climate Change Mitigation (PAF) provides support to businesses that invest in climate friendly projects. The first pilot auction was held online on July 15, 2015, auctioning off price guarantees, or put options, targeting methane reducing projects.
By providing a floor price for captured methane, the PAF offers private investors a financial incentive to fund carbon capture. Using an auction maximizes the impact of public funds dedicated to slowing climate change.
The above text is excerpted from a World Bank blog post about this auction. Click on the link at right to access the full blog post on the World Bank website.