FILE PHOTO: A tree that is about to be planted is seen during a reforestation project in Nova Mutum, Brazil, February 19, 2020. Picture taken February 19, 2020. REUTERS/Alexandre Meneghini/File Photo
LONDON/NEW YORK (Reuters) - International Finance Corp (IFC), a World Bank affiliate, told Reuters on Wednesday it is backing a blockchain-enabled platform to trade carbon offsets, aiming to attract more support from institutional investors for climate-friendly projects in emerging markets.
It is a bet that using blockchain - a digital database with information that can be publicly shared within a large decentralised network - will boost the use of carbon offsets to a greater extent than more traditional methods.
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