Can the World Bank bring greater transparency and change negative perceptions of voluntary carbon markets? Ajay Banga, the bank’s president, is certainly going to give it a good try, with the World Bank certifying voluntary carbon credits for forestry in an effort to guarantee their environmental and social quality.
The World Bank’s voluntary credit market for forestry includes 126 million credits from 15 countries, which could earn up to $2.5bn in the right market conditions. The majority of the proceeds from the sale of these credits is expected to go back to the communities aligned on those habitats.
