Innovate4Climate

?? Live from Baku! ?? We're pleased to introduce the Roadmap for Safe, Efficient, and Interoperable Carbon Markets Infrastructure—the first deliverable from The World Bank-convened Carbon Markets Infrastructure Working Group (CMI WG). ??What? Carbon market infrastructure is the backbone and arteries of market activity. Together with our partners, we identified critical bottlenecks and outlined key priority areas for a secure, efficient, and interoperable carbon market infrastructure. Checkout the full roadmap here ?? https://lnkd.in/eRmdDpMD ?? What are the pain points? (1) Ecosystem Governance: we need clear roles, responsibilities, and terminologies to eliminate gaps and ambiguities in liability and accountability chains. (2) Information Security & Transaction Integrity: information security and transaction integrity, such as MAF and KYC/AML/ABC programs, matters also in carbon markets! (3) Data & System Interoperability: data harmonization is needed for system integration, interoperability and information exchange across platforms ?? all critical for a scaled up market ?? What’s Next? Detailed guidance notes for each of the above priority areas by June 2025. ? Acknowledgments The authors of the roadmap include the following CMI WG members: ACX (AirCarbon Exchange), B3 S.A. – Brasil, Bolsa, Balc?o, Climate Action Data Trust, CME Group, Climate Market Strategy & Infrastructure Group (CMSI), EcoRegistry, Global Carbon Council, Global Carbon Market Utility, Gold Standard, Indian Energy Exchange (IEX), The Integrity Council for the Voluntary Carbon Market (ICVCM), Intercontinental Exchange, INTERNATIONAL SWAPS AND DERIVATIVES ASSOCIATION, INC.,International Standards Organization, Johannesburg Stock Exchange, Nasdaq, Philip Lee LLP, Puro Earth, S&P Global, Sylvera, US Treasury, Verra, and Xpansiv. The International Organization of Securities Commissions - IOSCO also contributed as an observer. Together, we look forward to building a resilient, transparent, and efficient carbon market infrastructure that supports global climate goals. ???? #CarbonMarkets #CarbonMarketsInfrastructure #Governance #InformationSecurity #TransactionIntergrity #Interoperability #ClimateAction #CMIWG Chandra Shekhar Sinha Gemma Torras i Vives Hari Gadde Sandhya Srinivasan Pierre Guigon Shreya R.

The World Bank Group is committed to making a livable planet a reality—and ensuring that climate change doesn’t delay much-needed development or further damage lives and livelihoods. Join us live from #COP29 as we discuss impactful climate solutions to end poverty on a livable planet. Learn more about our commitment to clean energy, building resilient communities, and strengthening economies. https://wrld.bg/r7f250U1AvK

?? And that’s a wrap for #Innovate4Climate 2024!? ? A big thank you to everyone who joined us for three days filled with energizing sessions on crucial topics to accelerate climate action.? ? Here’s some of our favorite moments. ??? ? We look forward to seeing you again next year!?

?? NEW REPORT: Today, at #Innovate4Climate, we launched our new report on "Carbon Pricing in the Power Sector - Role and Design for Transitioning Towards Net-zero Carbon Development "? ? In it, we’ve explored the challenges faced by power sectors in low- and middle- income countries, the policy levers available to governments to decarbonize their power sectors, and how carbon pricing interacts with other policies in the sector.? ? Read the report ??? ? https://lnkd.in/ezNEwEJ5?

Today’s the last day of #Innovate4Climate 2024!? ? We’ve got a jam-packed agenda for our final day, with some exciting sessions on #COP29, carbon pricing and the role of removals.? ? This afternoon our Closing Session will round off the conference with the reflections, key insights and breakthroughs that we’ve seen over the past 3 days.? ? Keep using and following #Innovate4Climate for updates ???

Highlights from #Innovate4Climate Day 2 ????? ? A great day with some important discussions around emissions trading, delivering methane reductions at scale and driving demand in the voluntary carbon market.? ? We hosted a dynamic and engaging workshop with our Young Climate Innovators, which gave participants to explore their innovative ideas for climate change mitigation and adaptation.? ? There is still one day to go. Tomorrow, we will begin with a plenary on the ‘Road to Baku’ #COP29, followed by a series of engaging workshops ahead of our Closing Session in the afternoon.? ? See you there!? ???

?? Today at #Innovate4Climate, we launched a new report, “Balancing Act: Political Economy and the Pursuit of Ambitious Carbon Pricing in Developing Countries”.? ? There’s no ‘one size fits all’ approach when it comes to carbon pricing, but a few common components of successful carbon pricing schemes include:? ? ?Broad ownership ?Stakeholder dialogue ?Policy champions ?Opportunities ?Policy ecosystem ?Policy iteration ?Confidence ? Learn about the political economy of carbon pricing in our blog :? https://lnkd.in/eb4dxHPx Or read the full report to find out more :? https://lnkd.in/eJv6pt9t

?? Hot off the press: our second edition of State & Trends of International Carbon Markets 2024. ?? Was delighted to launch the report together with our partners MSCI Carbon Markets, AlliedOffsets, and Ecosystem Marketplace during the first technical plenary @ Innovate4Climate ? Check out my blog here https://lnkd.in/ecyta2By ? Download the report here https://lnkd.in/eiiGyXMR Hari Gadde Seoyi Kim Shreya R. Chandra Shekhar Sinha Gemma Torras i Vives Guy Turner Dirk Forrister Maria Orsola Benzoni Alexander Procton. Andrea García Salinas

We’re back for Day 2 of #Innovate4Climate ?? Today's agenda is packed with important discussions on scaling demand in the voluntary carbon market, emissions trading and the road to #netzero, carbon pricing, and more! We’re looking forward to hearing from our diverse group of speakers from global businesses and government. Stay tuned for more updates and highlights.? Full agenda ??? ? https://lnkd.in/eJy-Td6g?

#Innovate4Climate was full of vibrant, insightful discussions today ??? ? Participants learned about: ? The role of high-integrity carbon markets in providing climate finance to developing countries for their decarbonization efforts.? ? Insights from the latest World Bank’s State and Trends of International Carbon Markets report? ? Latest developments in established emission trading systems and forward-looking strategies to achieve net zero ? And much more! ? ? Tomorrow, we will be discussing emissions trading and the road to #netzero and the challenges and solutions to scaling demand in the voluntary carbon market.? ? Check out the full agenda ???? ? https://lnkd.in/eJy-Td6g??