Negotiating Cooperation under Art. 6: Crunch Issues and Tendencies
The complexities of negotiating cooperation under Article 6 of the Paris Agreement, focusing on key crunch issues and tendencies such as corresponding adjustments, ITMO transfers, sustainable development mechanisms, and more. Unpack the differences between Art. 6 and Kyoto Mechanisms to understand the nuances of international carbon markets and economic efficiency in implementation. Stay informed about the potential for higher ambition in mitigation and adaptation actions, promoting sustainable development while ensuring environmental integrity.
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Negotiating cooperation under Art. 6: Negotiating cooperation under Art. 6: the crunch issues the crunch issues RINGO meeting, 10 December 2019 Axel Michaelowa michaelowa@perspectives.cc axel.michaelowa@pw.uzh.ch www.perspectives.cc | info@perspectives.cc
Article 6: rationale for international carbon markets Parties recognize that some Parties choose to Parties recognize that some Parties choose to pursue pursue voluntary cooperation in the implementation voluntary cooperation in the implementation of their nationally determined contributions of their nationally determined contributions to allow for for higher ambition in their mitigation and adaptation higher ambition in their mitigation and adaptation actions actions and to and to promote sustainable development and promote sustainable development and environmental integrity environmental integrity Potential to improve the Potential to improve the economic efficiency economic efficiency of implementation: implementation: - Savings up to USD 250 billion / year, or - Increase the ambition by 5 GtCO2/ year to allow of NDC NDC https://www.ieta.org/resources/International_WG/Article6/CLPC_A6%20report_no%20crops.pdf www.perspectives.cc | info@perspectives.cc
Unpacking Article 6 of the Paris Agreement Art. 6.2 Cooperative Approaches Article 6.4 Sustainable Development Mechanism Yes Yes Art. 6.8 Non- market mechanisms Yes Yes No No ITMO transfers Corresponding adjustments Governance UNFCCC guidance Int. Emissions Trading / JI Track 1 UNFCCC supervision CDM / JI Track 2 TBD Climate finance? Adaptation? What does it look like? www.perspectives.cc | info@perspectives.cc
Differences between Art. 6 and Kyoto Mechanisms www.perspectives.cc | info@perspectives.cc
Key crunch issues and tendencies I Corresponding adjustments: hardening positions Corresponding adjustments: hardening positions - Corresponding adjustments at all? Brazil - Activities outside of NDCs: transition period? LDC/SIDS exemption? - Utilization of ITMOs for CORSIA and the voluntary market? - Allow other metrics with a buffer registry? - Multi- vs single year targets: emissions trajectories, averaging, or anything goes ? Kyoto mechanisms transition: softening positions Kyoto mechanisms transition: softening positions - Transition of CERs: under conditions temporal cutoff, 2020? - Transition of activities: re-registration, revalidation - Transition of methodologies: yes, but revision www.perspectives.cc | info@perspectives.cc
Key crunch issues and tendencies II Averaging Averaging 10 10 ITMOs for 1 ITMO in target year ITMOs for 1 ITMO in target year 5.5 ITMOs Trajectory : Trajectory : for 1 ITMO in target year 5.5 ITMOs for 1 ITMO in target year Share of proceeds Share of proceeds - Coverage of Art. 6.2: some movement of industrialized countries to consider contribution to adaptation finance , annual balance instead of each transaction www.perspectives.cc | info@perspectives.cc
Further crunch issues not much discussed Scope: Coverage of REDD+ ( enhanced removals )? Scope: Coverage of REDD+ ( enhanced removals )? Baselines and additionality : Generic approaches? Link to Baselines and additionality : Generic approaches? Link to NDC ambition? Specific safeguards for additionality? NDC ambition? Specific safeguards for additionality? Overall mitigation of global emissions? Overall mitigation of global emissions? www.perspectives.cc | info@perspectives.cc
Thank you! Axel Michaelowa michaelowa@perspectives.cc axel.Michaelowa@pw.uzh.ch www.perspectives.cc | info@perspectives.cc
