Partnership for Market Readiness (PMR)
As of: August 2019
Objective and activities
Launched in 2010, the Partnership for Market Readiness (PMR) helps to establish carbon markets in developing, emerging and transition countries. Germany is one of 13 donors in the partnership. The secretariat function is performed by the World Bank. Guided by the needs of the partner countries, the PMR pursues various approaches, such as the development of national emissions trading systems or new market instruments (new market mechanisms, CO2 taxes and national certification standards). The PMR functions both as a dialogue forum for technical exchange and as a trust fund for developing, piloting and implementing new carbon market instruments. Its work is also helping create systems for the measuring, reporting and verification (MRV) of emission reductions as well as expanding resources and expertise.
State of implementation/results
- Project in implementation
- The PMR has established itself as a central platform for supporting national mitigation efforts through the use of carbon pricing instruments; the Partnership Assembly meetings occurring twice a year as well as various workshops and e-course have been particularly helpful for a so called South-South-exchange.
- So far 19 countries have been approved to receive funding to the amount of 127 mio. USD for implementing measures. In addition, Germany, California, Kazakhstan and Quebec are proving as technical partners their experiences with reference to emissions trading to the PMR.
- With support of the PMR currently 17 final Market Readiness Proposals (MRPs) have been endorsed by implementing countries that build on comprehensive analysis and stakeholder consultation processes and thus represent the cornerstone to implement carbon pricing instruments.
- A range of countries are now preparing to implement their MRPs in the near-term future. The PMR started furthermore to support very ambitious and advanced countries with upstream policy work on post-2020 mitigation scenarios to better analyze the consequences for other policy areas and specific economic sectors.