1HighIntegrity,HighImpactCarbonmarketscouldbeagamechangerinadvancingclimateaction.Buttheyhavetobetrustworthy,transparent,resultinrealclimatemitigationandbringtangiblebenefits,especiallyfordevelopingcountries,iftheyaretomakearealdiference.Likeanyefectivemarket,incentivesneedtobewell-aligned,bothbuyersandsellersneedconfidenceinthequalityoftheproductandthepriceitwillget,andthatthetransactionsthemselvesaresoundandsustainable.Ifdoneright,carbonmarketscanserveasacrucialmechanismforfinancingdecarbonizationefortsandsignificantlyenhancefinancialflowstodevelopingcountries.Byassigningafinancialvaluetocarbonreductionandremoval,carbonmarketsencourageprivatesectorengagementinprojectsthatmightotherwisestruggletosecurefunding,especiallywithoutaclearpricesignal.TheWorldBankGroup(theBank)hasbeensupportingcountriesbyprovidingtechnicalassistanceandfinancingtoenablecountriestogenerate,andnowtosell,highintegritycarboncreditsintheforestsandothersectors,andbringbenefitstopeopleandcommunitiesseeasnapshotofourworkinbox1.Thishasbeenanefortovertwentyyearsinthemaking—buildingtheinstitutionalstructuresandcapacity,atthecountryandgloballevels,tohelpbringgreatertransparencyandreliabilitytotheglobalmarket.Throughthissupportcountrieshavegeneratedunimpeachablecredits—namely,ofhighqualityandhighintegrity—anddevelopedcountrysystemstosharebenef...
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