World Bank sells CERs through Bluenext

The Adaptation Fund of the World Bank will sell Certified Emission Reductions (CERs) through Paris-based exchange Bluenext, it announced last week.

"Following on from the three successful over-the-counter transactions we have executed for the Adaptation Fund, regular selling on Bluenext represents an important step in our CER monetisation strategy, by giving us direct access to buyers in the carbon market," says Ivan Zelenko, head of derivatives and structured products at the World Bank.

The Adaptation Fund was created under the United Nations Framework Convention on Climate Change to finance climate change programmes, and the sale of these CERs will go towards funding.

The fund's primary funding comes from a 2% share of proceeds of all CERs issued by the Clean Development Mechanism.