Check out the interview with IETA and the WB announcing their joint work in Singapore to further improve the transparency and environmental integrity of carbon credit transactions through the launch of The Climate Action Data (CAT) Trust.
Check out the interview with IETA and the WB announcing their joint work in Singapore to further improve the transparency and environmental integrity of carbon credit transactions through the launch of The Climate Action Data (CAT) Trust.
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Financing the Low-Carbon Transition-background

Financing the Low-Carbon Transition

Our Mission
Our Mission icon

Our Mission

What is our vision? 
Accelerate sustainable development by enhancing climate action and ambition thorough sound policy design and the use of carbon pricing instruments.

Leveraging International Carbon Markets under Article 6 to Unleash Private Capital
Our Mandate icon

Our Mandate

The Climate Warehouse is within the World Bank’s Carbon Markets and Innovation unit. The CMI aims to help client countries leverage climate markets and carbon pricing to increase the resources mobilized towards NDC implementation and enhancement of global climate ambition.

 

To fulfil this objective, CMI carries out a broad program of interrelated activities: 

Our Mandate graphic

These pilots form the basis for dialogue with governments on key institutional and capacity building requirements that need to be met for decision-making on Article 6. Together, this range of services will support our client countries’ participation in the next generation of climate markets, including capacity building and the development of institutional and governance processes.

How We Work icon

How We Work

The Climate Warehouse work program has initiated analytical and piloting work to kickstart the operationalization of Article 6 through learning-by-doing to ensure that climate markets can be rapidly scaled up when the Paris Agreement becomes effective in 2020.

 

The objective is to produce analytical and technical outputs to enable participation in Article 6 transactions by the WB’s client countries and shape the next generation of climate markets.

The Bank has four complementary work streams as shown in the chart below:

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Donors

Ministry for Ecological Transition, Spain
Ministry for Ecological Transition, Spain

State Secretariat for Economic Affairs (SECO), Switzerland
State Secretariat for Economic Affairs (SECO), Switzerland

Ministry of Economic Affairs and Climate Policy, Netherlands
Ministry of Economic Affairs and Climate Policy, Netherlands

Swedish Energy Agency
Swedish Energy Agency

Partners

MDB Working Group
MDB Working Group

The MDB Working Group was established to harmonize approaches toward climate markets. In addition to the World Bank Group (IBRD, IFC, MIGA), the group includes ADB, AfDB, EIB, EBRD, IDB, and IsDB.

Article 6 Advisory Group
Article 6 Advisory Group

The Advisory Group consists of 3 donor governments, 3 project implementing entities, and 20 private sector companies, and has been constituted to periodically provide inputs toward the work program and guide its development.

Informal Working Group of Carbon Assets
Informal Working Group of Carbon Assets

Convened by International Emissions Trading Association (IETA) and the World Bank, the Working Group explores opportunities to streamline and harmonize process flows for creating and transferring assets in order to reduce transaction costs. The members include the American Carbon Registry, Architecture for REDD+ Transactions; Climate Action Reserve; Gold Standard; Verra; and Global Carbon Council.