 about the project about the project admin mon 8282017 1753 background background cloud page presentation about the project the european bank for reconstruction and development ebrd together with financial backing from the spanish government through the climate change office oficina espanola de cambio climatico oecc is supporting the transition to low carbon economies in the southern and eastern mediterranean semed region with the launch of a new series of marketbased programmes to reduce carbon emissions these integrated carbon programmes icps are comprehensive packages that include technical assistance policy dialogue and capacity building in carbon markets and financing instruments for emission reduction projects the project  developing and transacting an up scaled cdmbased carbon credit approach in semed  is developed under an icp funded by the spanish government and seeks to identify an approach for the design and implementation of an up scaled crediting mechanism including a selection of potential renewable energy pilot projects in the semed region which in the ebrd context comprises morocco jordan egypt and tunisia the overall goal of the project is to monetise greenhouse gas ghg emissions pre2020 and pilot a carbon crediting mechanism under article 6 of the paris agreement contributing to the respective policy dialogue at the united nations framework convention on climate change unfccc level in addition this project will also provide technology transfer opportunities by bringing together project sponsors technology providers and financial institutions the project consists of four main components  