March 2019 – The German Federal Ministry of Environment, Nature Conservation and Nuclear Safety (BMU) has a long-standing presence at the African Carbon Forum and the Africa Climate Week. In the field of carbon markets and market-based cooperation, numerous projects and initiatives are being implemented in Africa on behalf of BMU.
Many African countries (35 out of 103 globally) have stated an interest in using market mechanisms for implementing their Nationally Determined Contributions (NDCs). Article 6 of the Paris Agreement provides different options for utilizing market mechanisms to raise ambition and fulfill the countries’ climate targets. Despite some improvements on accessing the Clean Development Mechanism (CDM), experiences on carbon market mechanisms are still limited on the continent. At the same time, the first concepts for piloting the new Article 6 mechanisms are emerging.
Several BMU supported initiatives and projects focus on bringing these concepts to life in order to advance practical implementation. These projects and initiatives are compiled in the brochure Unlocking Africa’s carbon market – An overview of German initiatives which will be launched at the Africa Climate Week.
Africa Climate Week provides several opportunities to discuss and get more insights from experts, implementing agencies and partners on projects and the latest findings on climate finance and market mechanisms. Implementing agencies as well as partners across Africa will present their lessons learned and showcase their experiences on market-based climate action during several events at the climate week. Art. 6 negotiators, UNFCCC focal points and Designated National Authorities, project developers, donors, academia, MRV experts as well as private sector and government representatives from developing and developed countries are highly encouraged to attend the following events at Africa Climate Week.
The workshop takes place on the margins of the African Climate Week and seeks to engage Alliance members, technical implementation partners and development partners in furthering opportunities of West African countries to participate in international cooperation activities under Article 6. The objective is to enhance the understanding of Alliance members with regard to Article 6 readiness and to enable them to move towards implementation.
The event will elaborate on the objectives of the Alliance, as well as updates on the East African Alliance on Carbon Markets and Climate Finance. Input by representative of the East African Alliance on Carbon Markets and Climate Finance (tbc).
The event will discuss conceptual design elements of potential pilot activities under Article 6.2, 6.4 and 6.8 of the Paris Agreement and showcase existing experiences and opportunities of Art. 6 piloting projects in Africa.