Japan Announces Article 6 Partnership
On the margins of Cop 27, Japan initiated a programme for international knowledge sharing and capacity building on Article 6, despite ongoing differences about the proposed text of the article.
Article 6 says how the voluntary carbon market and international trading of carbon credits can be used to help countries meet their Nationally Determined Contributions (NDCs).
The Paris Agreement Article 6 Implementation Partnership was set up by the Japanese Ministry of the Environment on November 16. When it was announced, 40 countries and 23 institutions said they would join.
The partnership intends to supplement Article 6 by establishing a platform for countries to share information and experiences on carbon markets and their connections to the NDCS. In addition, the organisation intends to provide training and promote the development of carbon credit methodologies.
Although the "rulebook" for Article 6 was finalised at Cop 26 last year, there are still unresolved questions regarding its implementation mechanisms that have hampered progress at this year's summit.
Parties remain at odds over the deadline for transferring emissions reduction projects listed under the Kyoto protocol's Clean Development Mechanism to the new registry, the transaction procedure for moving credits between countries, and conditions for mandatory cancellations of credits.
Source: Argus
