Shopping for article 6 rules
In some parts of the world, today is cyber Monday, one more day of consumption splurge. ECO is no fan of this consumerist model, but in a conciliatory spirit, we have prepared a shopping list nonetheless. And what better thing to hunt for on a day aimed at driving market activity than a robust set of rules to establish the Paris Agreement’s market mechanisms under article 6?
By the end of this COP, ECO hopes that Parties will have agreed to a system which not only helps countries deliver on their targets, but also helps increase emission reductions and ensures environmental integrity. Parties might be used to hearing ECO complaining about Article 6, but today ECO wants to just “think positive” about the market mechanisms.
First, the mechanism will generate new projects,
in the thousands, that will benefit (and not harm) local communities and
provide concrete sustainable development benefits in the countries that most
need it, notably LDCs and SIDS. Projects will be mainly small scale and focus
on transformative technologies. This will contribute to developing renewable
energy to provide access to electricity for poor communities, while respecting
the strictest rules on additionality and vulnerability, and setting baselines
well below business-as-usual.
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