What is Article 6.2 of the Paris Agreement ?
Let's first try to understand what actually is Article 6.2 of the Paris Agreement, what is it's role, purpose. So Article 6.2 basically provides an accounting framework for international cooperation, such as linking the emissions-trading schemes of two or more countries. It outlines the possibility of cooperative approaches and the transfer of Internationally Transferrable Mitigation Outcomes (ITMOs) between different actors, including countries and private sector companies, through bilateral agreements. The ITMO helps the countries to achieve their Nationally Determined Contribution (NDC) targets.
This mechanism helps the countries to enhance global climate ambition, promote sustainable development, and ensure environmental integrity. It will also encourage private sector and business to participate in carbon offset generation.
Let's have a look at the figure below to get better understanding of how Article 6.2 of the Paris Agreement matters to us, India's approach and a lot more.
How it got incorporated under Article 6 ?
Do you know initially, the fifth session of Conference of the Parties (CMA 5) in Dubai didn't provide specific guidance related to Article 6.2, but requested the Subsidiary Body for Scientific and Technological Advice (SBSTA) to continue consideration on related matters. It was in UNFCCC Conference of Parties (COP28), Article 6.2 was discussed in details where it was planned to set a decentralized system under Article 6.2 where countries are allowed to forge bilateral agreements.
Objective of Article 6.2
Getting the basics clear now let's have a look as to what are the main objectives of Article 6.2. They are listed below:
Enhance global climate ambition
Promote sustainable development
Ensure environmental integrity
Unlock financial support for developing countries
Initiatives taken by Different Countries under Article 6.2 of the Paris Agreement
India
India's GHG emissions have roughly doubled since the turn of the century, with the country now emitting approximately four billion metric tons of carbon dioxide equivalent (GtCO₂e) per year. India has been taking various initiatives to combat the increasing GHG emission. One of the initiative undertaken by India has been finalizing
activities under Article 6.2 for GHG mitigation. Bharat has finalized a list of 13 activities under three categories for trading under Article 6.2, aimed at facilitating the transfer of emerging technologies and mobilizing international finance. The categories include GHG mitigation, alternative materials, and removal activities. Let's have a look at the 13 activities in the below image.
Namibia
Namibia accounts for just 0.01% of global emissions. Despite having vary small quantities of GHGs emissions, Namibia is extensively promoting Carbon Markets under Article 6.2 for enhanced implementation of the nationally determined contributions (NDC) to achieve net-zero emissions, in response to the climate emergency. This initiative has helped Namibia to lead among the sub-Sahara countries to achieve climate resilient development. Let's delve deep into the various initiatives, collaboration of Namibia with different countries, achievement, future plans and progress of Namibia under Article 6.2.
Kenya
Similar to Namibia, Kenya also has very small contribution in the global emission. Kenya accounts for less than 0.1 percent of global greenhouse gas (GHG) emissions annually. Kenya has been very ambitious to reduce the GHG emission despite being small and having very small global GHG emission. It also recently updated it's NDC and set ambitious targets to combat climate change. Under Article 6.2, Kenya brought new Climate Change Act and passed Carbon Market law for improved regulation and implementation of carbon credits. Let's have a glimpse at the below image to get better understanding of Kenya's initiatives, achievements, successful collaborations, future plans, and more.
JAPAN
Japan's GHG emission fell by 2.5% in FY 2022-23. Great achievement!
Japan also came up with it's Joint Crediting Mechanism (JCM) to offset carbon emission before the signing of Paris Agreement. Today, Japan has partnership with more than 25 countries under JCM. According to the Asian Development Bank, JCM is about to become the first cooperative approach under Article 6.2 in operation. Let's delve deep into the below image to understand in detail the collaborations under JCM with different countries, it's achievement, objective, future plans and progress.
Conclusion
In Conclusion, we can see that whether it's developing country, underdeveloped country or developed country, each country has come up with their ambitious plans to combat GHG emission. Looking into deep, we see that every country globally are collaborating with each other to create a sustainable future for the generations to come. Article 6.2 of Paris Agreement will play crucial role to the transition phase.
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