A major initiative of the Carbon Finance Unit (CFU) was innovating and developing new tools and methodologies. It developed 42 approved methodologies across a wide range of sectors, mostly in the Clean Development Mechanism (CDM), which benefited projects well beyond the Bank’s carbon funds’ portfolio. A large share of the CDM projects and program of activities use methodologies developed by the CFU. As of December 2017, more than 6,067 (77 percent) out of 7,889 Clean Development Mechanism (CDM) project activities and 136 (44 percent) out of 310 programs of activities use World Bank methodologies.