The development of this report was led by the World Bank and prepared by expertsfrom the World Bank and Climate Focus. Additional contributions were provided by theInternational Carbon Action Partnership and the Carbon Disclosure Project.Ecosystem Marketplace and Sinocarbon Innovation & Investment also supported thisreport.

The World Bank task team responsible for this report was composed of Marissa Santikarn,Angela Naneu Churie Kallhauge, Mustafa Ozgur Bozcaga, Leyla Sattler, MichaelMcCormick, and Ana Ferran Torres.

The Climate Focus team included Darragh Conway, Leo Mongendre, Carolina Inclan,Szymon Mikolajczyk, Lieke ‘t Gilde, Imogen Long, Felipe Bravo, Federico Lorenzo, andAdriaan Korthuis.

This report benefited greatly from the insights and contributions from: Malin Ahlberg,Keyongah Ahn, Erik van Andel, Botagoz Akhmetova, Jelena Ban, Imre Banyasz, NicoletteBartlett, Hélène M.E. de Beer, Pierre Bouchard, David M. Brock, Tómas Brynjólfsson,Marcos Castro Rodriguez, Petr Charnik, Sandeep Roy Chaudhury, Satoshi Chida, MischaClassen, Ximena Aristizabal Clavijo, Tom Coleman, John Cooper, Housseini Coulibaly,Francisco Dall’Orso, the Department for Business, Energy and Industrial Strategy(United Kingdom), Department of Climate Change, Ministry of Natural Resources andEnvironment (Viet Nam), the Department of Finance (Government of the NorthwestTerritories, Canada), the Department of Finance (Ireland), Felipe Andres Diaz, BillDrumheller, Virender K. Duggal, Thomas Duchaine, Todd Dupuis, the East Africa Alli -ance national focal points, Jane Ellis, Dominik Englert, Simon Fellermeyer, HarikumarGadde, the GIZ Global Carbon Markets team (Uganda), Aric Gliesche, the Governmentof Argentina, the Government of Singapore, Jason Gray, Stephane Hallegatte, SharlinHemraj, Anukriti S. Hittle, Dmitry Halubouski, Aminul Haque, Keisuke Iyadomi, SyedaHadika Jamshaid, Yuji Jigata, Olga Sanda Jurča, Brad Kerin, Krzysztof Kobyłka, AnnaKonovalov, Steven Kuski, Allen Landis, Jesús Abraham Bartolomé Lasa, Teody Leano,Sungwoo Lee, Stéphane Legros, Pongvipa Lohsomboon, Memory Machingambi, JudyMeltzer, the Ministry of Environment and Climate Change Strategy (British Columbia),the Ministry for Environment and Parks (Alberta), the Ministry of En vironment andPlanning (Slovenia), the Ministry of Finance (British Col umbia), the Ministry of Finance(Luxembourg), the Ministry of Finance (Slovenia), Antonio Morgado, Daniel Nachtigall,