Publication: High Integrity, High Impact: The World Bank Engagement Roadmap for Carbon Markets
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2024-08-06
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2024-08-06
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Carbon markets could be a game changer in advancing climate action. But they have to be trustworthy, transparent, result in real climate mitigation and bring tangible benefits, especially for developing countries, if they are to make a real difference. Like any effective market, incentives need to be well-aligned, both buyers and sellers need confidence in the quality of the product and the price it will get, and that the transactions themselves are sound and sustainable. The World Bank Group (the Bank) has been supporting countries by providing technical assistance and financing to enable countries to generate, and now to sell, high integrity carbon credits in the forests and other sectors, and bring benefits to people and communities. Through this support countries have generated unimpeachable credits - namely, of high quality and high integrity and developed country systems to share benefits and fairly compensate people and communities. High-integrity carbon markets can be a win-win for people and the planet, potentially generating millions, if not billions, for countries on the pathway to low carbon development. While there are challenges, the potential of carbon markets needs to be tapped and fully utilized.
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“World Bank. 2024. High Integrity, High Impact: The World Bank Engagement Roadmap for Carbon Markets. © World Bank. http://hdl.handle.net/10986/42016 License: CC BY-NC 3.0 IGO.”
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