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Implementing Paris Cooperatively

Update on Market Mechanisms in the Latest NDC Submission

The research paper examines how Parties position themselves on market mechanisms in the latest NDCs. Article 6 of the Paris Agreement establishes two approaches for market-based cooperation in the context of NDC attainment. After numerous rounds of negotiations, Parties have finally been able to agree on detailed provisions for these new types of market- based cooperation at COP26 in Glasgow. Six years after the adoption of the Paris Agreement in 2015, Parties were requested to prepare new or updated NDCs and submit them to the UNFCCC Secretariat by 2020. The paper surveys text passages regarding international cooperation under Article 6 in the 124 NDCs that were submitted before October 31.

It is an update of an analysis published in March 2021.

Date: December 2021

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