Asian Development Bank (ADB) has setup a new fund which will provide financing for green projects in the Asia Pacific region that can generate carbon credits beyond 2012. The initial fund size is $100 million and could be increased to $200 million if the demand calls for it.
ADB is concerned that since the Kyoto Protocol’s first commitment period expires on 31 December 2012, this could hamper the trading in post-2012 carbon credits. In turn this will affect the interest in developing new clean energy projects and other climate change initiatives in developing countries. And with the lack of long-term price incentives for reducing greenhouse gas emissions, investment trends in green projects could return to normal levels. But with this fund in place, they are hoping that it can stimulate new investments in clean energy projects even before a new international agreement is reached.
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The Philippine Land Transportation and Franchising Regulatory Board, which governs the Public Utility vehicles in the country, has allowed some transport groups to use old surplus Auto LPG engines instead of the mixed diesel-LPG that was intially proposed. 
PNOC-Alternative Fuels Corporation (PNOC-AFC) President and CEO, Peter Anthony Abaya, announced the acquisition of equipment to aid in the research, development and adoption of Jatropha Curcas as an alternative fuel source in the Philippines. He also added that due to the high price of oil in the world market there is an urgent need to fast track biofuel projects in the country.
