|Consider the following statements regarding the|
|Prototype Carbon Fund:|
|1. The Prototype Carbon Fund was created by the Executive Directors of the World Bank.|
|2. The PCF is intended to invest in projects that will produce high quality greenhouse gas emission reductions that could be registered with the United Nations Framework Convention on Climate Change (UNFCCC) for the purposes of the Kyoto Protocol.|
|3. The PCF will pilot production of emission reductions within the framework of Joint Implementation and the Clean Development Mechanism (CDM).|
|4. Contributors, or "Participants" in the PCF, will receive a pro rata share of the emission reductions, verified and certified in accordance with agreements reached with the respective countries "hosting" the projects. Select the correct answer using the code given below:|
A) 1 and 3
B) 2 and 4
C) 2, 3 and 4
D) 1, 2, 3 and 4
Correct Answer: D
Solution :[d] A partnership between seventeen companies and six governments, and managed by the World Bank, the Prototype Carbon Fund (PCF) became operational in April 2000. As the first carbon fund, its mission is to pioneer the market for project-based greenhouse gas emission reductions while promoting sustainable development and offering a learning-by-doing opportunity to its stakeholders.
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