Participant Led, Participant Governed
The participation and governance structure of the PMR includes the Partnership Assembly (PA), observer countries and organizations, technical experts, and a Secretariat, trustee, and delivery partner. See Actors and Role of the World Bank for more detail on the roles and responsibilities of these different actors.
The PA is the PMR’s decision-making body and is responsible for final decisions on funding allocation. While the PMR Governance Framework allows for the creation of a smaller Participant’s Committee to facilitate decision making, to date such a committee has not been necessary. Instead, the PMR functions in the true spirit of partnership and decisions are made by consensus.
- Provides strategic guidance for PMR operations and monitors its activity and progress;
- Endorses requests from Implementing Country Participants and Technical Partners to become Participants; and
- Allocates PMR resources and the annual PMR operating budget.
The PA meets a minimum of twice annually and is co-chaired by two representatives; one elected each from the Implementing Country Participants and the Contributing Participants.
All Implementing Country Participans use PMR resources to support the design, development, and piloting of instruments to price carbon and/or create a carbon market. Some countries are ready to design the instruments themeselves, others are at a stage of capacity building. The work is formalized in a Market Readiness Proposal (MRP), a document that lays out planned activities, a timeline, and a proposed budget. The MRP is presented to the PA for feedback and decisions on funding. Visit PMR MRP Process to learn more.