A World Bank emissions trading program that will finance clean energy projects in developing countries has generated more money and more government and corporate interest than expected, and the bank hopes to expand it. About $135 million has been pledged to the program by 15 corporations, including BP Amoco and six Japanese electric power companies, and by six nations — Canada, Finland, the Netherlands, Japan, Sweden, and Norway. Another nine companies want to get on board. “The high level of corporate interest in this venture marks a major shift in how companies think about their role in contributing to new thinking about global problems such as climate change,” said World Bank Vice President Ian Johnson. Participants in the program get credits that could help them meet their targets for emissions reductions under the Kyoto climate change treaty.
