Side events: Nordic Partnership Initiative
The Nordic Partnership Initiative for Up-scaled Mitigation Action is launched at COP17. It aims at demonstrating in practice how international climate finance can be matched with up-scaled host country mitigation action. Two side-events at COP17 highlight the Nordic countries' activities with such Nationally Appropriate Mitigation Actions (NAMAs) in Peru and Vietnam.
The initiative seeks to build host countries’ capacity to evaluate, structure and implement Nationally Appropriate Mitigation Actions (NAMAs), making use of international funding and possible new market mechanisms
The current carbon markets could be improved by going beyond single emission reduction projects to include broader segments of the economy. The NPI project could help make global carbon trading more efficient and facilitate development of new market mechanisms.
A major part of the project is to document and build up knowledge on how this can work on a sector to sector basis, to create practical experience that can be used worldwide.
The Nordic Working Group for Global Climate Negotiations is handling the NPI along with the two Nordic financing institutions the Nordic Environment Financing Corporation (Nefco) and the Nordic Development Fund (NDF).
