With Budget 2020 placing a huge emphasis on climate action, perhaps it is time to get reacquainted with previous attempts at combating this global issue. This week's TOTW offers concise insight into the fund set up following the Kyoto Protocol.
Means the fund established for the purpose of the acquisition on behalf of the State of Kyoto Units (qv) in accordance with the United Nations Framework Convention on Climate Change and the Kyoto Protocol (qv): Carbon Fund Act 2007 s.2. The Fund is controlled and managed by the Minister for the Environment, Heritage and Local Government: (ibid s.2(3)). However, responsibility for management of the Fund has been delegated to the National Treasury Management Agency (qv): (ibid s.2(4)). See KYOTO PROTOCOL; KYOTO UNITS.
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