A new ‘Integrated Assessment for Article Six’ (IAA6) project meets the needs for support on how to assess, strategize and plan for use of international carbon markets to attract private sector engagement in an integrated way with national carbon pricing and emissions trading schemes.
The IAA6 project will ensure, that developing countries have the tools, data and technical capacity to use Article 6 carbon markets strategically for NDC implementation and ambition raising aligned with the long-term goal of the Paris Agreement.
Capacity and tools in IAA6 are developed through a South-South approach to learning-by-doing enabling transformative design of Article 6 approaches.
Working with three countries, the project aims to catalyze broader deployment of the approach regionally and globally, by showcasing and piloting application of the tools tailored to country needs.
IAA6 supports integrated assessment for use of Article 6 voluntary cooperation by building knowledge and understanding with government partners, private sector, academic institutions and the general public.
The project is implemented by UNEP and its UNEP Copenhagen Climate Centre and is funded by the European Commission, Directorate-General for Climate Action (DG CLIMA).
Enabling NDC cost savings
The 2021 Emissions Gap Report assessed the importance of carbon markets and found that full use of market mechanisms can enable cost savings for NDC implementation in the order of 40-60% in 2030.
Currently more than 120 countries have indicated their willingness to use Article 6 for NDC implementation. Furthermore, UNEP has received multiple requests for support on Article 6 implementation from member countries since the rulebook for implementation was agreed at COP26 in Glasgow.
The IAAS project is part of the response to the needs for capacity building support, aiming to enable developing countries to fully utilize the possibilities of the emerging international carbon market under Article 6.
Launched at COP27
The IAA6 project was launched during COP27 with participants from the European Commission, UNEP, UNEP Copenhagen Climate Centre, the University of Costa Rica, Afrique Energie Environnement, and the Indonesian Research Institute for Decarbonization.
This text was created and maintained with the financial support of the European Union. Its contents are the sole responsibility of Copenhagen Climate Centre and do not necessarily reflect the views of the European Union.