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International efforts to avoid dangerous climate change have historically focused on reducing energy-related carbon-di-oxide (CO2) emissions from countries with the largest economies, including the EU and U.S., and/or the largest populations, such as, China and India. However, in recent years, emissions have surged among a different, much less-examined group of countries, raising the issue of how to address a next generation of high-emitting economies that need strong growth to reduce relatively high levels of poverty. They are also among the countries most at risk from the adverse impacts of climate change. Compounding the paucity of analyses of these emerging emitters, the long-term effects of the Coronavirus (COVID-19) pandemic on economic activity and energy systems remain unclear. Here, the authors analyze the trends and drivers of emissions in each of the fifty-nine developing countries whose emissions over 2010-2018 grew faster than the global average (excluding China and India), and then project their emissions under a range of pandemic recovery scenarios. Although future emissions diverge considerably depending on responses to Coronavirus (COVID-19) and subsequent recovery pathways, the authors find that emissions from these countries nonetheless reach a range of 5.1-7.1 Gt CO2 by 2040 in all their scenarios, substantially in excess of emissions from these regions in published scenarios that limit global warming to 2 degrees Celsius . The authors results highlight the critical importance of ramping up mitigation efforts in countries that to this point have played a limited role in contributing the stock of atmospheric CO2 while also ensuring the sustained economic growth that will be necessary to eliminate extreme poverty and drive the extensive adaptation to climate change that will be required.

Climate Change Mitigation and Green House Gases --- Environment

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Carbon market simulations are programs, models, virtual environments, and/or games that allow stakeholders to participate in a simulated process of designing or participating in an ETS. They are a low-cost and low-risk option of building capacity for both policymakers and regulated companies. The experiential learning processes these tools enable serves to increase ETS literacy, helps build support for ETS as a policy option, and illustrates how policy outcomes are a function of design. Importantly, ETS simulations can provide an opportunity for different stakeholdersto build relationships, mutual understanding and trust, all of which are key prerequisites for working together on policy design and implementation. Finally, these tools provide stakeholders with a safe and risk-free opportunity to try out new ideas, make mistakes, and to learn lessons which can serve to speed the adoption of effective ETSs.

Carbon Policy and Trading --- Climate Change Mitigation and Green House Gases --- Environment

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The World Bank's Networked Carbon Markets (NCM) initiative is collaboratively exploring the post-2020tools, services and institutions needed to enhance the transparency, comparability, and fungibility of heterogeneous climate actions, for a connectedinternational carbon market. The cost and efficiency benefits of linking will be important for engendering more climate action and supporting the global developmentalgoal to limit global warming to 2 C and aim to limit it to 1.5 C. The NCM initiative aims to enable comparison of different mitigation actions and trade across differentmitigation outcomes in a way that is: inclusive; transparent; efficient; and has environmental integrity. It is founded on the assumptions that firstly, the linking ofdiverse and heterogeneous mitigation actions is desirable;secondly, that governments and market participants needinformation about the schemes with which they enter transactions and the assets they acquire through those transactions; and thirdly, that governments should retainthe sovereignty to act on the information about those other mitigation actions and assets as they see fit. Generally, the form of any linking arrangement will rangefrom a very loose alignment (soft link) to a very tight alignment of key elements (a hard link). Hard linking requires aligning the design featuresof mitigation actions-some of these design features may be easily reconcilable among the linking partners,while others may not. Recognizing that aligning mitigation actions can be a lengthy and costly process, especially once a mitigation action has already been implemented, networking is one form of soft' linking that can offer an alternative solution. Rather than seeking to align mitigation actions, networking is about facilitating trade of the outcomes of those actions by recognizing differences and placing a value on these differences. The services and institutions developed through the NCM initiative might be introduced in a phased manner, initially supporting countries to design robust mitigation actions and facilitating comparability and linkage within countries.It is intended that these services and institutions could help to facilitate linkage bilaterally, before being extended to markets on a regional basis-perhaps through "carbonclubs" and in the long term helping markets to link on a global basis.

Carbon Policy and Trading --- Climate Change Mitigation and Green House Gases --- Environment

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Carbon pricing instruments (CPIs) involve large legal and financial interests. Trust in the accuracy and integrity of the reported data is therefore a prerequisite for a well-functioning instrument. To ensure accuracy and integrity of data, a robust monitoring, reporting, and verification (MRV) system is essential. Verification is critical to enhance trust in a carbon pricing system. Where systems have large financial implications, participation is voluntary, or international exchange of units is planned, this trust is paramount for successful implementation. This guidebook aims to help regulators to better understand their options in designing a verification system tailored to their specific needs and circumstances.

Carbon Policy and Trading --- Climate Change and Environment --- Climate Change Mitigation and Green House Gases --- Environment

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Stakeholder and public support are critical for an enduring and robust carbon pricing policy. How jurisdictions communicate their carbon pricing policy plays a key role in creating and maintaining that support. Drawing on case studies, research and best practice, the report provides guidance on designing and implementing effective carbon pricing communications strategies.

Carbon policy and trading --- Climate change and environment --- Climate change mitigation and green house gases --- Environment