Global: The role of the World Bank in carbon markets

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.