The role of the World Bank in carbon markets
Briefing||4 February 2011|
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This paper outlines the World Bank’s involvement in the carbon market and reviews concerns about its impacts on greenhouse gas emission reductions and development. First, it introduces the role and aims of the Bank’s Carbon Finance Unit and the various funds and facilities that it manages. The Bank has worked to shape the carbon market by reducing risk for other investors, setting social and environmental standards, and developing new types of projects. It is now focusing on promoting national programmes', reducing emissions from deforestation; and large-scale, long-term carbon finance.
The paper then summarises the concerns that have emerged from official evaluations and scrutiny by civil society groups regarding the effectiveness of Bank carbon finance in reducing emissions and generating development benefits, adding new evidence where available.
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Published: 4 February 2011 , last edited: 6 April 2011
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