Governing Documents
Quick Facts
- 35 national and sub-national jurisdictions, and the European Commission
- 19 Implementing Country Participants, 13 Contributing Participants, and 9 Technical Partners
- Total capitalization of $127 million
- 16 countries have completed road maps for carbon pricing readiness
- $71.5 million allocated to governments to implement readiness activities
- 19 Technical Notes, 55 Technical Workshops and other knowledge exchanges
Resources
Objectives
- Build countries’ capacity to develop and implement carbon pricing instruments needed for GHG mitigation and NDC implementation through grant funding;
- Create a knowledge base on carbon pricing instruments and facilitate information exchange through technical discussions and dissemination of knowledge products;
- Assist countries to identify and implement best practice approaches and, where relevant, achieve compatibility in design to support the development of carbon markets; and
- Inform the national and international policy discussions on GHG mitigation by sharing lessons learned and providing a platform for collective innovation on carbon pricing instruments.
Building a Community for Collaboration
Participant Led, Participant Governed
The participation and governance structure of the PMR includes the Partnership Assembly (PA), observer countries and organizations, technical experts, and a Secretariat, trustee, and delivery partner. See Actors and Role of the World Bank for more detail on the roles and responsibilities of these different actors.
The PA is the PMR’s decision-making body and is responsible for final decisions on funding allocation. While the PMR Governance Framework allows for the creation of a smaller Participant’s Committee to facilitate decision making, to date such a committee has not been necessary. Instead, the PMR functions in the true spirit of partnership and decisions are made by consensus.
The PA
- Provides strategic guidance for PMR operations and monitors its activity and progress;
- Endorses requests from Implementing Country Participants and Technical Partners to become Participants; and
- Allocates PMR resources and the annual PMR operating budget.
The PA meets a minimum of twice annually and is co-chaired by two representatives; one elected each from the Implementing Country Participants and the Contributing Participants.
PMR-Funded Activities
All Implementing Country Participans use PMR resources to support the design, development, and piloting of instruments to price carbon and/or create a carbon market. Some countries are ready to design the instruments themeselves, others are at a stage of capacity building. The work is formalized in a Market Readiness Proposal (MRP), a document that lays out planned activities, a timeline, and a proposed budget. The MRP is presented to the PA for feedback and decisions on funding. Visit PMR MRP Process to learn more.