June 2019 - During the last Conference of the Parties in Katowice in December 2018, a detailed text on the design of the new market mechanisms in accordance with Article 6 of the Paris Agreement was already drafted. Eventually, it did not meet with the approval of all Parties. For this year's climate Conference of the Parties in Chile, the goal is set to adopt this part of the rulebook of the Paris Agreement.
Therefore, the German Environment Agency has now published four preliminary discussion papers in which the central aspects of the credit mechanism under Article 6.4. are examined in more detail. This mechanism is supposed to succeed the CDM from 2021 onwards, but will contain decisive improvements, especially with regard to robust accounting of emission reductions and better integration into the host country's national climate strategy.
The discussion papers have been prepared in the context of the UBA project "Designing the New Global Market Mechanism" that is being implemented by the Wuppertal Institute together with INFRAS and Fraunhofer ISI.The papers are aimed at the international community of experts and intended to promote the discussion on Article 6.4.