ERCST sees its role very much as a bridge bringing the international dimension of the climate change debate to Brussels. One such important dimension relates to Article 6 of the Paris Agreement that aims to provide a framework for post-2020 international carbon markets. After years of negotiations and leading discussions, we have accomplished a milestone at COP26 in Glasgow with agreement on the Article 6 rulebook.
This will establish momentum for international carbon markets and the linking of different emissions trading schemes that are currently operating in silos across the globe. At the same time, it will unlock the potential of carbon markets for Parties, multilateral international organisations and the private sector in achieving their climate targets/goals.
ERCST’s work on Article 6 can be subdivided into the following activities:
- Markets and non-market provisions (Article 6) under the Paris Agreement
- Article 6 Community Center
- Article 6 Library
Since its inception, ERCST has been organising and hosting informal dialogues on the implementation of Article 6, with the aim of fostering discussions in a less rigid atmosphere. The informal dialogues seek to bring together the relevant negotiators and stakeholders, in order to ensure that participants feel free to go deeper into explaining and understanding the different views and interpretations of the rules, modalities and procedures.
Article 6 is the last section of the Paris Rulebook that needs to be finalised, as no agreement was found at COP 25 in Madrid. In 2020, the informal dialogue continued despite the fact that the format changed from in-person to virtual meetings, focusing on why an agreement could not be reached and discussing potential ways forward. Emphasis was put on better understanding contentious issues and links with other parts of the Madrid Rulebook, which were captured in 3 publications and 9 reflection notes.
In 2023, ERCST will continue to host these informal dialogues and provide intellectual input to the discussion, with the focus likely shifting to dealing with the outstanding issues for the successful implementation of the work programme, as a run-up to COP 28 in the United Arab Emirates (UAE).
Since 2021, ERCST has launched the Article 6 Community Center to bring together a broader community, beyond the UNFCCC negotiators, which is interested in Article 6.
ERCST organizes webinars with leading thinkers and practitioners on a regular basis to tackle different interesting topics and facilitate knowledge building within the community. These webinars present an opportunity for stakeholders to find out about the latest developments and initiatives around an international carbon market 2.0.
The Article 6 Library is part of the Article 6 Community Center, which is hosted on the ERCST website. The library is a unique and central point of information that holds 200+ publications, presentations and UNFCCC documents that relate to Article 6 of the Paris Agreement. New publications are continuously added to ensure users are updated on the newest research and analysis. Please feel free to reach out if you have Article 6 documents that should be included in the library: email@example.com
Scaling up and trading CO2 storage units (CSUs) under Article 6 of the Paris Agreement – Potential challenges, enablers, governance and mechanismselenaAuthor(s): Andrei Marcu, Peter Zaman (HFW), Paul Zakkour (Carbon Counts)
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