Climate Changed
Canada, U.K. Plan the First Paris Climate Deal Carbon Trades
- World Bank facility aimed at drawing private sector money
- Governments work on which projects can tap the funds
Photographer: Wolfgang von Brauchitsch/Bloomberg
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Canada and the U.K. are among six countries preparing the first carbon trades under the landmark Paris Agreement on climate change, part of an effort to unlock as much as $4 billion for the fight against global warming.
The nations are assessing projects to cut greenhouse-gases in exchange for emission credits that can be used to comply with goals they set under the United Nations pact sealed in 2015, according to the World Bank Group, which is overseeing the program.