Carbon Markets Infrastructure (CMI) Working Group

Building robust and interoperable carbon market infrastructure is critical for ensuring market integrity and scalability. At COP28, the World Bank released an engagement roadmap towards rebuilding trustworthy and transparent carbon markets to have a tangible impact towards addressing the global climate crisis. This roadmap “High Integrity, High Impact: The World Bank Engagement Roadmap for Carbon Markets” recognized that the key enabler for this was reinstating trust in the carbon markets. 

An integral part of reinstating and strengthening trust in carbon markets is through harmonizing and standardizing functionalities and entities across the carbon markets ecosystem. This would entail agreeing upon minimum service standards, common frameworks, and governance across the ecosystem of key players and entities such as principles-setters, independent standards, registries, validation and verification bodies, and rating agencies. This in turn requires entails working with all relevant stakeholders to unlock the most critical bottlenecks in global architecture and support development countries to build market infrastructure, institutions, and policy.

In this context, the World Bank set up the Carbon Market Infrastructure (CMI) Working Group including a wide range of stakeholders ranging from policymakers, exchanges, regulators, standard setters, and other infrastructure providers across the value chain (see the current list of participants in the bottom of the page). 

 Key challenges and recommendations to strengthen carbon market infrastructure