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With 189 member countries, staff from more than 170 countries, and offices in over 130 locations, the World Bank Group is a unique global partnership: five institutions working for sustainable solutions that reduce poverty and build shared prosperity in developing countries.

Once emission reductions are verified, the standard-setter certifies them, signaling the applicable emission reduction transaction registry to issue ERCs. In the case of the World Bank-led standards, these credits are issued and transferred to the Bank’s transaction registry so buyers, including World Bank trust funds like the FCPF, can pay the country for the proven results.

With the introduction of new Umbrella Trust Funds such as the Climate Emissions Reduction Facility, (CERF), the Bank will manage and implement the next generation of finance instruments, working even harder and faster to deliver more impactful results. Through the CERF, we can further simplify processes, speed up payments, and bring the finance as part of an overall financial solution to drive climate action and work at scale – specifically pivoting from piloting to impact.

An Emission Reduction Purchase Agreement (ERPA) for Certified Emission Reductions (CERs) to be delivered between 2008 and 2012 was signed on Dec 9, 2005 with PNOC-EDC and the World Bank, acting as trustee of the Netherlands CDM Fund (NCDMF). The project has been registered as a CDM project P CDM/JI S S NSS PROGRAM - World Bank

Under Article 6, emission reductions that have been authorized for transfer by the selling country’s government may be sold to another country, but only one country may count the emission reduction toward its NDC. It is critical to avoid double counting so that global emission reductions are not overestimated.

CER Certified Emission Reduction CFI Carbon Farming Initiative Ci-Dev Carbon Initiative for Development CO 2 Carbon dioxide CO 2e Carbon dioxide equivalent COP Conference of the Parties CORSIA Carbon Offset and Reduction Scheme for International Aviation CPA Component Project Activities CPLC Carbon Pricing Leadership Coalition CRT Climate Reserve Tonne

2 Emission reductions means reductions and enhanced removals of greenhouse gas emissions. 3 The Kyoto Protocol is an international agreement linked to the United Nations Framework Convention on Climate Change, which com-mits its Parties by setting internationally binding emission reduction targets.

REDD Reducing Emissions from Deforestation and Forest Degradation REDD+ Extends REDD by including sustain-able forest management, conserva-tion of forests, and enhancement of carbon sinks. RET Renewable Energy Target RGGI Regional Greenhouse Gas Initiative RMU Removal Unit sCER Secondary Certified Emission Reduction SCF Strategic Climate Fund SF. 6