The Asian Development Bank (ADB) is gearing up to launch a new carbon fund late next month. Finland and Sweden have committed more than $100 million to the Future Carbon Fund, exceeding ADB’s public sector target. ADB’s ultimate goal is to eclipse the $200 million mark with the help of private sector funding. The creation of the fund comes as a direct result of uncertainty surrounding the expiration of the Kyoto Protocol in 2012. The Future Carbon Fund aims to finance renewable energy, energy efficiency, and other greenhouse gas (GHG) mitigation projects undertaken in its developing member countries. The Fund will focus primarily on carbon credits from ADB-financed projects. ADB hopes to improve energy security and reduce the impact of climate change in the Asia-Pacific region.