Paris Aligned Crediting Markets – Offering Support for Host Countries

Carbon markets have the potential to facilitate more ambitious climate action through cost-savings and targeted channeling of financial resources. As Article 6 of the Paris Agreement is implemented, countries are increasingly considering how the use of international markets can assist in delivering their own mitigation strategies - aligned with NDCs, SDGs and long-term goals of the Paris Agreement. With the support from European Commission’s Directorate-General for Climate Action (DG CLIMA), UNEP CCC is co-developing an integrated assessment approach to Article 6 (IAA6 approach) with three pilot countries (Peru, Sri Lanka and Tanzania) towards effective engagement and implementation of Article 6 carbon markets. The IAA6 approach provides a conceptual structure for understanding the requirements at the national level for engaging and implementing Article 6 carbon markets, in a robust and comprehensive manner.