Evaluation of the Carbon Market Finance Programme (CMFP) implemented through the Carbon Initiative for Development (Ci-Dev)

Project Background

The Carbon Initiative for Development (Ci-Dev) managed by the World Bank Carbon Finance Group supports investments in low-carbon technologies in least developed countries by providing financing linked to emission reductions. The £50 million Carbon Market Finance Programme (CMFP) is implemented through Ci-Dev. The CMFP represents a highly innovative, large, and timely intervention to increase the flow of international carbon finance to least developed countries with a focus on Africa. It is widely accepted by the international community that there is limited evidence for how carbon market financing can deliver development benefits – particularly benefits at community and household level. The CMFP aims at exploring if the carbon market can deliver better results for the poor by testing new business models to support low carbon investment in Africa using carbon finance.

Type and scope of services

Together with LTS International and Ecofys/ Navigant, Arepo evaluates the CFMP over a 10-year period (2015-2025). The scope of the evaluations covers activities supervised by the World Bank Carbon Initiative for Development (Ci-Dev) through the two trust funds – the Ci-Dev Readiness Fund and the Ci-Dev Carbon Fund. The evaluators will closely track around 20 pilot interventions in several African countries covering off-grid energy, biogas and efficient cookstoves.
The evaluation deliverables include- inception report (after 6 months), biannual reports of M&E data, ongoing evaluation reports, first formative evaluation report (2016), mid-term (formative) evaluation report (by 2019), a final evaluation report (by 2025).
The evaluators use best evaluation practices to inform the evaluation design and a mixed method approach that includes- process tracing and outcome mapping, portfolio analysis, policy analysis, small sample surveys, in-country quasi-experimental quantitative surveys, economic analyses and value for money assessments, meta-analyses of the substantial clean development mechanism data, and country and project case studies.