Explanation: The World Bank’s Climate Change Fund Management Unit is home to climate finance initiatives that deliver innovative and scalable climate and environmental action. With more than $5 billion in capital these initiatives:

• The Forest Carbon Partnership Facility (FCPF) and the Bio-Carbon Fund Initiative for Sustainable Forest Landscapes (ISFL) focus on sustainable forest and land use. These funds guide readiness and implementation of reducing emissions from deforestation and forest degradation (REDD+), including testing purchase of REDD+ credits and incentivizing the development and implementation of sustainable land use activities.
• The Transformative Carbon Asset Facility (TCAF) works with national policy makers to help shape environmental, energy, and climate change policy to reach meaningful scale and create a lasting, transformative social impact.
• The Carbon Initiative for Development has a portfolio of programs that support similar emissions reduction projects, often small-scale at the household level. It has developed the Standardized Crediting Framework—a new approach to crediting emission reductions in the post-Kyoto era.

Source: Shankar IAS