The agreement reached on Article 6 of the Paris Agreement at COP26 in 2021 was a major milestone for international carbon markets. Countries established an initial set of guidance for a new reporting and accounting system for “internationally transferred mitigation outcomes” (ITMOs), as well as the rules for a new crediting mechanism under the United Nations Framework Convention on Climate Change (UNFCCC).
Carbon trading was a central component of the system set up under the Kyoto Protocol from 1997, the treaty that initially governed countries’ climate action. Article 6 could play a similar role now.
Specifically Articles 6.2 and 6,4. The first related to establishing a framework for tracking, reporting, and accounting for cooperation between countries and internationaly and the later about the rules, modalities, and procedures set out the design features for a new crediting mechanism. Recall here our post about the so-called Article 6 Implementation Partnership.
Prepared by Gold Standard and adelphi, supported by the German Government, a new report about the latest status of Article 6 preparations in 20 countries as released recently. The countries studied are among the most important past suppliers of carbon credits, and most host significant numbers of certified Gold Standard activities. Namelly: Bangladesh, Brasil, China, Colombia, Ethiopia, Ghana, Honduras, India, Indonesia, Kenya, Malawi, Mozambique, Nepal, Nigeria, Peru, Rwanda, Thailand, Uganda, Vietnam, Zambia
Click at the image below to read the report including detailed factsheets per country.
Gold Standard’s has another related publication worth mentioning, “Supporting authorizations under Article 6 of the Paris Agreement: Lessons learned and key considerations” . It includes an analysis of the various actors and processes that shape the dynamic landscape of market-based cooperation under Article 6. Click here to read it.
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- Source: https://www.carboncreditmarkets.com/en/single-post/preparations-for-article-6-gold-standard-analyses-selected-countries
