Lord of the Credits: The Return of Article 6
And so here we are again! ECO shall never get tired of engaging with you when you are developing critical rules for implementation of Article 6 to ensure environmental integrity and promote sustainable development.
Today we present our top line recommendations. And for you, true hardcore followers of Article 6, stay tuned! Over the coming days, we will outline in detail how and why you should implement these asks within Article 6.
KP transition
COP24 ended in a showdown, and the transition of Kyoto Protocol flexible mechanisms, including the current projects and units issued from these projects was a part of it. From the CDM alone, there could be over 4 billion units available after 2020 if Parties do not put restrictions in place. Today, over 800 million Carbon Emission Reductions (CERs) are already on the market. And don’t get ECO started about AAUs and ERUs… For each of these units used under the Paris Agreement, one less tonne of CO2e will be reduced. Besides, most of these units never made any contribution because the emission reductions they represent would have happened anyway. We know it, you know it, and if they are transitioned into the Paris Agreement, the world will get hotter and we will know why…
Avoiding double counting
Second, on the list is the infamous double counting issue.
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