The World Bank and IETA are two important agents in the carbon market. The World Bank was the first institution to develop global carbon funds as a public/private partnership – with the creation of the Prototype Carbon Fund (PCF) in 2000 – and has gone on to create a whole family of funds and facilities designed to expand the volume of carbon trade with its borrowing countries, reduce risk, and extend the reach of carbon finance into diverse niches in the market.
The International Emissions Trading Association (IETA) is a non-profit business organisation of major companies and the leading voice of this community on emissions trading, whose goal is to ensure that the objectives of the United Nations Convention on Climate Change and, ultimately, climate protection, are met. IETA upholds its principles by acting as a think tank, a facilitator of dialogues, an advocate, a market promoter and acting as a body that is able to implement market standards. IETA works for the development of an active, global greenhouse gas market, consistent across national boundaries. It currently has over 170 member companies from around the world, including global leaders in oil, electricity, cement, aluminium, chemical, paper and banking; as well as leading firms in the data verification and certification, brokering and trading, legal and consulting industries.
The World Bank and IETA share a long-standing and fruitful relationship that includes the creation of the Community Development Carbon Fund, which is dedicated to purchasing carbon credits from poor countries that have social and community benefits in addition to reducing greenhouse gas emissions, the Validation and Verification Manual, and jointly sponsored training programs in carbon finance. Together their credibility in the market and combined efforts will be sure to make the Carbon Trade Fair a success.
To further ensure the success of the event, the World Bank and IETA have chosen to join forces with Koelnmesse, the leading organiser of German industrial-professional trade shows.