Market-based international climate action is entering a crucial phase. Following the UN Climate Conference COP29 in Baku, the implementation of the Article 6.4 mechanism of the Paris Agreement is coming into focus. A new analysis of Climate Focus in cooperation with Perspectives Climate Research offers timely insights into the progress, open questions, and practical implications of this pivotal component of the global carbon market.
The Article 6.4 mechanism is designed to enable countries and private actors to trade emission reductions internationally – under strict requirements for environmental integrity and transparency. This publication provides a concise overview of the current status: Which rules have already been adopted? What institutional infrastructure is in place – and what is still missing? And how can project developers and investors prepare?
The paper is particularly relevant for stakeholders actively engaged in shaping or participating in the international carbon market. It outlines which parts of the mechanism are already operational and where regulatory or technical challenges remain. The analysis situates these developments within the broader Article 6 negotiation process and offers a well-founded outlook on what lies ahead.
The publication can be downloaded in the upper right corner.