Article 6.8 fans, today is your day! And for those who aren’t fans yet, here are some reasons you should be and ideas to bring forward in today’s workshop:
Article 6.8 has often been left behind in the negotiations with Parties focusing on the market mechanisms contained in other parts of Article 6. But 6.8 has the potential to bring ambitious action immediately. In advance of the 6.8 workshop, ECO wants to share and support the idea of a matching facility.
Article 6.8 offers exciting opportunities for real ambitious action through a holistic, integrated approach focusing on joint mitigation and adaptation, resilience and rights. This is particularly true in the land sector, where there is critical potential for climate action, as well as major risks for land and food rights, if not done right. The 6.8 mechanism is a strong avenue for ambitious action on land and in the oceans.
A web-based registry along with a “matching facility” that connects possible contributions – from governments, private sector, philanthropies or elsewhere – with opportunities to increase ambition and action, including within NDCs, would be an exciting and empowering outcome from COP27. Concretely, some Parties could list their needs as part of their NDC, and other Parties would list their support capacities. Currently, 1.5 Gt CO2eq of potential emission reductions are reflected in the conditional components of NDCs, an awesome lot of potential waiting to be unlocked. ECO urges Parties to use the opportunity of this workshop to give Article 6.8 a chance to shape up and get it ready to go for COP 27.