African countries are keen to participate in the new generation of carbon markets, despite Article 6 negotiations on the guidance and the rules of the market mechanisms not concluding at COP25. Participation in carbon market activities will allow for higher ambition in both mitigation and adaptation while mobilizing climate finance, enhancing technology transfer and contributing towards sustainable development.
Currently there are on-going Article 6 pilot activities providing lessons to the design and principles necessary for implementing carbon market activities under the Paris Agreement. For these new generation of market mechanisms to succeed we feel it is crucial that member countries of both Alliances, with potential to sell ITMOs, take part in productive engagement with countries seeking to purchase ITMOs.
Objectives
This informal roundtable intends:
- to take stock of current developments
- to share country experiences and challenges
- and to discuss the requirements for successful use of cooperative approaches
Please note: This is a closed meeting.