World Bank grants $3 million to reduce carbon emisions in Costa Rica

March 14, 2013

Costa Rica will receive $3 million to develop local projects to reduce carbon emissions through the Partnership for Market Readiness (PMR), a global alliance created by the World Bank to provide funding for projects to reduce greenhouse gas emissions.

The announcement was made during the celebration of the Fifth PMR Assembly, held in Washington, D.C., March 11-13. Representatives from 28 countries attended.

Environment Minister René Castro said the [World Bank] contribution is a tool to stimulate local actions to achieve carbon neutrality, but it is also strategic for the country’s economic competitiveness.

Costa Rica’s government established the Carbon Neutral Country Program to support processes related to the reporting of greenhouse gas inventories and the implementation of the National Policy for Declaration of C-Neutrality.

Under this program, companies receiving a C-neutral declaration can compensate for emissions through the purchase of carbon credits, which provide funds for reforestation, forest protection and energy efficiency.

You may be interested

Costa Rica at a glance: top news from the past week
The Alvarado Administration
76 views
The Alvarado Administration
76 views

Costa Rica at a glance: top news from the past week

The Tico Times - May 21, 2018

Newly inaugurated Costa Rican President Carlos Alvarado is closing in on two weeks on the job. Here are some of…

PHOTOS: International Museum Day in Costa Rica
Arts & Culture
95 views
Arts & Culture
95 views

PHOTOS: International Museum Day in Costa Rica

Mitzi Stark - May 21, 2018

May 18 is International Museum Day, and Costa Rica celebrated with 31 mini-museums all in one at the Casa del…

Costa Rica, Panama refuse to acknowledge Venezuelan election results
Latin America
124 views
Latin America
124 views

Costa Rica, Panama refuse to acknowledge Venezuelan election results

AFP - May 21, 2018

Costa Rica and Panama were two of 14 countries in the Americas to announce they would not acknowledge the results…