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Three speakers at a conference

Historically, the flexible mechanisms were defined and developed at the international level, under the auspices of the UNFCCC. Currently, more and more carbon markets are being developed unilaterally by some countries or in collaboration with other countries, but outside of the UN framework.

A New Approach for Dynamic Crediting Baselines

January 2020 - Under the Paris Agreement, all Parties are obliged to periodically develop NDCs with each NDC presenting a progression beyond the current level of ambition. For cooperative action according to Article 6 of the Agreement, this presents a challenge for demonstrating the additionality of the proposed action, i.e. that these activities would not have happened without support from the Article 6 mechanism. In this context, a new paper presents a concept to dynamically reflect the ambition of the Paris Agreement in the crediting baseline helping to design Art. 6.4 mitigation activities in a way that allows them to help host countries overachieve their NDCs and embark on a transformative pathway. The paper is now available for download. more

Corresponding Adjustments under Article 6

December 2019 - The Paris Agreement builds on an approach that is fundamentally decentralised in nature. This also includes its treatment of Nationally Determined Contributions (NDCs) and cooperative approaches among Parties under Article 6, raising numerous questions about the operationalisation of voluntary cooperation. Therefore, a new study supported by the BMU aims at making a step toward a better understanding of the several issues covered by Article 6. more

Beyond the project-based approach

November 2019 - Article 6 of the Paris Agreement could open a new chapter of market-based international cooperation by going beyond the project-based approach known from the Kyoto Protocol, allowing for policy-based and sectoral crediting to take place under the Article 6.4 mechanism. But is the current negotiations text well-suited to make such up-scaled approaches possible? A new policy paper aims to answer this question and is now available for download. more

New reports on Art 6.4 in a net-zero emissions world and private-sector participation

November 2019 - At this year’s climate conference in Madrid, Parties are to complete the rulebook for the use of market-based instruments under the Paris Agreement. Against this backdrop, two new discussion papers published by UBA discuss, how the Article 6.4 mechanism may contribute towards achieving the long-term objective of net-zero GHG emissions world and the participation of the private-sector could be fostered. more

New paper on the lessons learned from the first round of applications under CORSIA

November 2019 - In 2016, the International Civil Aviation Organization (ICAO) adopted the Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA). The scheme requires participating airline operators to purchase carbon offset credits to compensate for the increase in their carbon dioxide emissions from international flights above 2019/2020 levels. A new paper written on behalf of the BMU synthesizes key lessons learned from an assessment of the first 14 applications of carbon-offsetting programs for eligibility under CORSIA and evaluates the degree to which the applicants satisfy the ICAO requirements. more

Discussing Cooperative Climate Action

Reports from BMU Side Events at COP 24. More