This working paper commissioned by the World Bank Carbon Markets and Innovation Practice (GCCMI) critically examines experience with carbon markets under the Kyoto protocol. The de facto end of the Kyoto Protocol and heralding of the Paris Agreement era has created the space for critical...

Carbon markets under the Paris Agreement are expected to differ substantially from those that emerged under the Kyoto Protocol. Unlike the top-down approach of markets created by the Kyoto Protocol, such as the Clean Development Mechanism (CDM), international carbon markets under Article 6 of...

Carbon prices are needed to incorporate climate change costs into economic decision making. Carbon pricing should be included as part of a broader arsenal of tools to achieve domestic climate targets, but it is not a silver bullet: other policy instruments and investments (for example, public...

Digitalization is increasing rapidly worldwide, requiring more energy, and resulting in greenhouse gas (GHG) emissions. According to International Telecommunication Union (ITU) two thirds of the world's population are now online. Estimates of the internet and communication technology (ICT)...

The Indonesia Economic Prospects (IEP) is a bi-annual World Bank report that assesses recent macroeconomic developments, outlook and risks, as well as specific development challenges for the Indonesian economy. In doing so, the IEP aims to inform the public policy debate and is geared towards a...

The Paris Agreement provides a framework for all countries - both developed and developing - to voluntarily adopt individual targets, elaborated in their nationally determined contributions (NDCs). This effectively introduces commitments on the country in the sectors covered by their NDCs....

Since its adoption in December 2015 by the 21st Conference of Parties (COP21), within the United Nations Framework Convention on Climate Change (UNFCCC), 175 countries to date have ratified the Paris Agreement. These countries have made commitments Nationally Determined Contributions (NDCs), in...

By 2050, two-thirds of the planet's population will live in urban centers, and nearly 90 percentof the 2.5 billion new urban dwellers will live in Africa and Asia. The world's urban areas wereresponsible for around 70 percent of greenhouse gas (GHG) emissions in 2013, and that numbercould grow...

Climate auctions are an innovative climate finance mechanism, with high potential to support nationally determined contribution (NDC) implementation and deepening through efficiently leveraging private investment. The World Bank has developed the climate auction model through the work of the...

The Paris Agreement introduced a bottom-up approach for addressing climate change by enabling countries to pledge individual commitments through nationally determined contributions (NDCs). Furthermore, Article 6 of the Paris Agreement recognizes that Parties may engage in bilateral cooperative...