Washington, 5 July 2010

The World Bank as Trustee for the Adaptation Fund completed a sale of 600,000 tons of certified emission reductions (CERs) during the period from June 24th to July 1st, 2010. The World Bank (International Bank for Reconstruction and Development) serves as Trustee for the Adaptation Fund, and conducts CER sales for the Fund. The primary funding for the Adaptation Fund comes from a two percent share of proceeds of all CERs issued under the Clean Development Mechanism. The World Bank sells CERs on behalf of the Adaptation Fund regularly on exchanges and through over-the-counter transactions with approved dealers. Through July 1st, 2010 the World Bank has monetized over US$ 109 million worth of CERs.

Credit Agricole CIB was appointed as the dealer for the sales. The end buyers of the CERs were primarily European compliance buyers.

Martin Fraenkel, Credit Agricole CIB Global Head of Commodities: We are delighted to co-operate with the World Bank on this important mandate.  The World Bank joins Credit Agricole' CIBs distinguished list of leading sovereign, supra-national, financial and corporate counterparts in the Emissions markets.

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