May 31-June 1, 2023 — By Mathew Carr

Investors that created emission-reduction projects under the Clean Development Mechanism (a UN carbon market of the Kyoto Protocol) and want to transfer them to the 6.4 market being created under the Paris climate deal might be able to start doing so as soon as June 30, according to a video presentation published by the UNFCCC.

Such a move would require a decision over the next few weeks by the Supervisory Body of the new 6.4 market, according to the video. The timing is mandated for June this year. The body is meeting in Bonn through Saturday.

Countries participating, those hosting emission reduction projects, need to be invited to engage with the process, and it’s still unclear how and when that will happen, said Martin Hession, a policy advisor at the European Commission and member of the body, speaking on June 1 at the meeting.

About 3,000 plus of the CDM’s 8,000 activities (projects and programs) may be eligible to transition, according to the UNFCCC.

Acronyms: PoA – Program of Activities; CPA – component project activities of the PoA

Here are key snips:

Source: video above