World Bank's BioCarbon Fund purchases 851,911 temporary CERs issued by Moldova

The issuance of the first carbon credits generated by the Moldova Soil Conservation Project is the largest issuance of carbon credits from a reforestation project in the Emerging Europe and Central Asia countries, the World Bank said in a statement on Thursday.

"The project is having an impact at the local level by improving land management practices and generating income from carbon sequestration which has already been reinvested in a second reforestation project, setting an excellent example for replication," the World Bank's country director for Ukraine, Belarus and Moldova, Qimiao Fan, said.