The main project selection criteria include, but are not limited, to:
Location: Projects must be located in an emerging market country that has either ratified the Kyoto Protocol or is in the process of doing so. A list of eligible countries is available on request.
Likely Project Closing: Projects must be likely to reach financial closing in the short term.
Amount of Credits: Projects must generate a minimum number of credits through to 2012. As this requirement varies by product, please contact IFC for more information.
Environmental and Social Impact: All projects, whether financed by IFC or not, must comply with IFC's Environmental and Social Standards. Projects that have large-scale adverse environmental or social impacts will not be considered.
Host Country Approval: The government of the host country will have to approve the project under the Clean Development Mechanism or Joint Implementation mechanism of the Kyoto Protocol. IFC can support the application of the project company to the government for such approval. The host country will also need to have ratified, or initiated domestic procedures to ratify, the Kyoto Protocol.
Independent Verifications: The initial design of the project will need to be validated by an independent auditor, as required under the Kyoto Protocol. In addition, the credits generated by a project must be verified and certified periodically by auditors.
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