Building an End-to-End Digital Ecosystem for Carbon Markets
Climate Warehouse
The Climate Warehouse program prototypes, tests, and develops digital infrastructure to foster greater transparency, trust, and integrity in the carbon markets. Successfully prototyped and tested elements of the digital infrastructure will be operationalized to build the market infrastructure. Examples include the recently launched metadata platform to connect and aggregate registry information (the Climate Action Data (CAD) Trust), digital MRV systems, national carbon registries, tokenization instruments, and a one-stop resource platform that enhances knowledge-sharing and capacity-building.
Ecosystem & D4C Collaboration
Ecosystem & D4C Collaboration
Ecosystem. Post-2020 markets under the Paris Agreement will be built using a bottom-up approach, as each party to the Agreement must track greenhouse gas (GHG) emissions reductions (or removals) achieved, and has considerable leeway to determine how this will be done.
Carbon markets are facing a future with increased complexity and diversity of approaches to reporting and verification of GHG emissions inventories and mitigation outcomes. Against this backdrop, there is an opportunity to underpin and streamline post-2020 carbon markets with digital technologies. Opportunities to improve efficiency and transparency, while reducing the generation and transaction costs of carbon assets, exist in both the upstream and downstream processes of carbon markets.
Digital For Climate (D4C). The D4C work program is a collaboration with EBRD, UNDP, UNFCCC, and WB that aims to coordinate respective workflows and create a modular end-to-end digital ecosystem for the carbon market.

Metadata Layer - Climate Action Data (CAD) Trust
Metadata Layer - Climate Action Data (CAD) Trust
Climate Action Data (CAD) Trust is a global public metadata layer that aims to empower a new global carbon market infrastructure through a decentralized information technology platform built on blockchain. It aims to mobilize climate action toward the Paris Agreement’s objectives by enhancing transparency and environmental integrity of carbon credit transactions and international carbon markets.
By connecting registries through a decentralized infrastructure, and making Climate Action Data (CAD) Trust information publicly available, it will be possible to identify risks of double counting that can damage the integrity of the markets.
The data layer created by the Warehouse can be used to support data sharing, and it provides a backbone infrastructure that can support services built by the public and private sectors to support market activity, such as compliance reporting, transacting, and benchmarking services.
The Climate Action Data (CAD) Trust´s media launch took place on October 26. The official launch was announced on December 7, 2022 at the Asia Climate Summit in Singapore. It is planned to deliver a platform that can integrate multiple carbon credit registries from early next year.
For more information on the testing and simulation activities, please visit the site here: https://www.theclimatewarehouse.org/work/climate-action-data-(cad)-trust
To learn more about the CADT, please check the official page: https://climateactiondata.org/
National Carbon Registries
National Carbon Registries
The core registry is a national-level registry that provides basic manual entry functionalities to upload projects and units' data in sync with the CADT.
The PMI enhanced registry was developed by the World Bank and the government of Jordan, offering enhanced functionalities for countries. In addition to managing projects, issuing units, and tracking unit transactions between registry account holders, the Enhanced Registry can track workflows, manage project types and methodologies, and generate reports on project and sector performance. The Enhanced Registry can also be integrated with digital MRV systems for automatic data entry.
Digital Measurement, Reporting & Verification (d-MRV)
Digital Measurement, Reporting & Verification (d-MRV)
MRV is a multistep process to measure, report, and verify emission reductions achieved by a specific mitigation activity. Digital MRV covers the use of digital technologies to improve data collection and verification by increasing transparency, speed and reducing transaction costs substantially while reducing the level of effort.
The World Bank aims to support countries to pilot digital MRV systems to demonstrate proof-of-concept, test interlinks of digital MRV systems with registries, and foster an enabling environment for the implementation of digital MRV.
Please read the recently published report: Report D-MRV and Its Application in Future Carbon Markets: https://openknowledge.worldbank.org/handle/10986/37622
Tokenization
Tokenization
Increased penetration of blockchain technologies in the carbon market will lead to the development of new marketplaces to trade on-chain credits, launching of opportunities to finance novel carbon removal projects, and creation of platforms that provide tokenization as a service to project developers and registries.
The World Bank is currently conceptualizing market mechanisms to enable native tokenization of carbon credits and plans to pilot these prototypes with carbon market participants to capture knowledge and lessons learned.
Knowledge & Capacity Building
Knowledge & Capacity Building
The Climate Warehouse offers a wide range of knowledge products on each workstream, such as reports, technical papers, blogs and audiovisuals. Browse the online library by clicking this link and explore a one-stop shop of end-to-end digital infrastructure for carbon market.
The capacity-building programme is conducted in collaboration with the Partnership for Market Implementation (PMI).