Article 6 Implementation Partnership Of The Paris Agreement: 1st Authorization Working Group

Article 6 of the Paris Agreement basically clarifies how international carbon markets should evolve, essentially supporting the transfer of emission reductions between countries, to help one or more parties meet their own climate targets. It also incentivizes the private sector to invest in climate-friendly solutions.

Some parties have already established bilateral agreements and domestic structures for international cooperation under Article 6.

Among the topics discussed last February 20, in the 1st Plenary Meeting of the “Paris Agreement Article 6 Implementation Partnership” (A6IP), organized by the Secretariat of the Ministry of the Environment from Japan (MOEJ), were the Thematic Working Groups. Last March 15th and 17th, members of the so called “Authorization” Working Group gathered online for the first time.

“Authorisation” is a new but as yet undefined component of the guidance for implementation of Article 6 of the Paris Agreement. Authorisation is important as it triggers both corresponding adjustments and reporting requirements related to the international transfer of carbon credits, for example.

And together with authorization, the concept of an ITMO: Internationally transferred mitigation outcomes. An ITMO uses a carbon dioxide equivalent [CO2e] metric for a new set of market provisions or other greenhouse gas (GHG) mitigation outcomes.

Click at the image below for more details throught the agenda items and slides presented in this 1st Authorization Working Group meeting from A6IP. Speakers included UNFCCC Secretariat, World Bank, Ministries of Environment and representatives from Japan (host), Chile, Ghana, Jordan, Papua New Guinea, Sweden and Switzerland.

As you will see, the development of a tool for authorization was proposed by the Ministry of Environment from Japan, after discussions related to international capacity building.

#carbonmarkets

#article6

#parisagreement