Massive Carbon Warehouse Will Ensure Global Emissions Trading 2.0 is Much Better (2)

The warehouse has been built since 2019, with the World Bank, Chile, Singapore, and more than 70 players involved.

It will track projects, types of carbon credits, standards, mitigation outcomes and potentialy trades.

It’s been enabled by article six of the Paris climate deal and blockchain technology, with rules approved in Glasgow last November at the UNFCCC talks.

Transparency is key, said Juan Pedro Searle, head of climate for Chile.

Details were provided at the European Climate Summit.

“One challenge will be to reach the level of (required) robustness,” Searle said.

The warehouse is moving from testing phases this year to an operational phase.

Details of event:

Workshop – The Climate Warehouse: A Meta-Data Infrastructure to Support Transparency and Integrity of Climate Markets
(Organised by IETA & World Bank Group – Hybrid)

The World Bank prototyped the Climate Warehouse which can serve a public good meta-data infrastructure
built on blockchain technology to facilitate the transparent sharing and reporting of climate project information and their issuances. This workshop will present the lessons learned from Simulation II, provide updates on Simulation III, and outcome of the 6-month consultation convened by IETA, World Bank, and the Government of Singapore to define the governance and financing model of the operational Climate Warehouse with a group of
over 70 countries and entities.

 Simon Henry, Director of Carbon Market Development – International Emissions Trading Association (IETA)
Opening Remarks:
 Bernice Van Bronkhorst, Global Director, Climate Change, Sustainable Development Practice Group – World Bank
 Benedict Chia, Director – National Climate Change Secretariat, Singapore
 Gemma Torras Vives, IT Officer, Carbon Markets and Innovation, Climate Change Group – World Bank Group
 Ieva Steponaviciute, Research Analyst – International Emissions Trading Association (IETA)
 Lauren Nichols, Managing Director – American Carbon Registry (ACR)
 Juan Pedro Searle, Head of Climate Change – Ministry of Energy – Chile

Morgan Stanley

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