Article 6.4 progress update: work of the Supervisory Body on the Paris Agreement Crediting Mechanism
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The Article 6.4 mechanism, now known as the Paris Agreement Crediting Mechanism, allows countries to trade reductions in carbon emissions in a manner that goes beyond zero-sum offsetting, to achieve their commitments under the Paris Agreement.
Parties to the Paris Agreement established a Supervisory Body and tasked the body with development of recommendations on the full activity cycle of Article 6.4 projects – including project activity design, the calculation of emissions reductions associated with a given project activity type, and how to register project activities, through to the process for transfer and cancellation of units associated with emissions reductions from a project.
This briefing provides an update on the activities and work of the Article 6.4 Supervisory Body through June 2024. The purpose of this briefing is to ensure that relevant persons from Small Island Developing States (SIDS) and Least Developed Countries (LDCs) are aware of the body’s ongoing work and aware of the several standards and procedures this body has already adopted, which will impact the design of Article 6.4 project activities and programmes of activities.
The information in this briefing will be of benefit to government personnel, private sector actors, impacted stakeholders, non-governmental representatives, academia and other entities and stakeholders in SIDS and LDCs interested in participating in the Article 6.4 mechanism.
