A separate estate established under the Kyoto Protocol, an agreement on climate protection signed by 167 signatory states on December 11, 1997, to raise capital to compensate for environmental damage. The fund is financed primarily by a two percent levy on sales of air pollution certificates (emission certificates, carbon credits) traded worldwide under the Clean Development Mechanism (CDM), which was also established under the Kyoto Protocol. – See Global Environmental Facility, Pigou tax.

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University Professor Dr. Gerhard Merk, Dipl.rer.pol., Dipl.rer.oec.
Professor Dr. Eckehard Krah, Dipl.rer.pol.
E-mail address: info@ekrah.com
https://de.wikipedia.org/wiki/Gerhard_Ernst_Merk
https://www.jung-stilling-gesellschaft.de/merk/
https://www.gerhardmerk.de/

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