Article 6 sets up new UN overseen carbon markets, allowing countries to collaborate to cut down costs of the climate transition.
On social media:
See this LinkedIn post by
Andrea Bonzanni, International Policy Director at the International Emissions Trading Association
“With the United States, the European Union and China not directly participating in Article 6 mechanisms so far, Japan must take the lead and show the world how to deliver investment in mitigation abroad in a context where all countries have binding NDC targets (nationally determined contributions to the Paris deal — ie voluntary emission limits) and long-term decarbonisation goals.
“The main challenge faced by Japan at this stage is that many countries around the world are wary and hesitate to authorise the sale of Article 6 credits. Building capacity and sound policy frameworks in these countries will be key to unlock the potential of Article 6 in a way that benefits both buying and selling countries.”
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