Project Title & Description
Agreement-Support Arctic Counsel Activities
This agreement will contribute to the financial resources to be deposited with the Nordic Environmental Finance Corporation (NEFCO) to provide support to the Project Support Instrument (PSI) which NEFCO will manage on behalf of the Arctic Council. The funding for the PSI will finance Arctic Council projects addressing mitigation of black carbon emissions from diesel combustion. The PSI may finance project preparation activities, such as project identification and concept development, pre-feasibility studies, feasibility studies, environmental impact assessments, business plans, financing plans, preliminary design, and specific measures in the implementation phase of pilot and demonstration projects, including supplies of equipment and services. Examples of black carbon mitigation activites may include assessing primary sources of black carbon; developing baseline emission inventory for black carbon including from diesel based combustion sources; and creating policy recommendations and financing options for reducing black carbon across the Arctic region.