Facility for Performance Based Climate Finance in Latin America

This was an initiative to support sustainable and climate-friendly development and transformation of defined sectors in Latin America through the implementation of performance-based greenhouse gas mitigation activities. The PBCF Facility is aimed at implementing pilot schemes that lead to monitored and verified CO₂ equivalent emission reductions and contribute to the overall objective of limiting global warming; designing innovative incentive schemes for sector reform which are linked to achieved emission reductions (performance-based approach); supporting development of showcases for the definition of sector/sub-sector baselines and implementation of robust MRV (monitoring/reporting/verification) systems; supporting the creation of suitable institutional set-ups for the implementation of performance-based sectoral approaches and building the capacities needed within participating institutions for the implementation of mitigation activities.