Transformative Carbon Asset Fund (TCAF) The Transformative Carbon Asset Facility will target sector or policy wide programmes where the implementing country is planning to take climate mitigation action. This could be via regulations, fiscal policies, feed-in-tariff or incentives. As long as these plans are in line with the TCAF programme selection criteria, in collaboration with the implementing entity (normally a Government ministry) TCAF will design a methodology that pays for the verified emissions reductions of the programme above its intended ambition, giving targeted support to unlock the barriers to allow the increased ambition to be realised.