Understanding the Three Pillars of Article 6: 6.2, 6.4, and 6.8

Understanding the Three Pillars of Article 6: 6.2, 6.4, and 6.8

Article 6 of the #Paris Agreement is crucial for countries to meet their Nationally Determined Contributions (NDCs). It offers three collaboration mechanisms to reduce #GHG emissions:

Article 6.2 - Cooperative Approach: This mechanism allows for voluntary cooperation between countries in implementing their #NDC. Introducing #ITMO (Internationally Transferred Mitigation Outcomes), which are units of #greenhousegas emissions measured in tonnes of #CO2 equivalent that can be transferred internationally from one country to another. These ITMOs can be used to meet the NDCs by the purchasing country. An important aspect when transferring these ITMOs, the selling country must adjust its emissions to ensure environmental integrity. The #JointCreditingMechanism (#JCM) works under this Article, making the exchange of #CarbonCredits between #Japan and the partner country possible.

Article 6.4 - #SustainableDevelopment Mechanism: This mechanism is more stringent than the #CleanDevelopmentMechanism (#CDM) and is overseen by a United Nations subsidiary body. It aims to promote greenhouse gas mitigation and sustainable development, allowing public and private entities to participate. The mechanism contributes to reducing global emission levels and is designed to drive emission reductions in countries that need assistance to meet their NDCs. It also ensures that emission reductions are real, measurable, and long-term.

Article 6.8 - Non-Market Approaches: This mechanism encourages financing without the need for a transaction of emission reductions, such as the ITMOs mentioned before. This means that the emission reductions stay in the country where they were achieved. It allows public and private entities and civil society organizations to participate. The non-market approach is currently under negotiation and is not intended to generate a market but rather to provide #naturebasedsolutions.