The Paris Agreement, adopted by the United Nations Framework Convention on Climate Change (UNFCCC) in 2015, is a landmark agreement to limit the rise in global temperature and to help countries transition to a low-carbon economy. Article 6 of the Paris Agreement is specifically focused on the role of international cooperation and carbon markets in achieving the goals of the agreement, and it provides a framework for countries to use carbon markets to help meet their emissions reduction targets.

Adhering to the principles of Article 6 can be impactful for businesses and organizations globally, as it provides an opportunity to reduce emissions, improve sustainability, and drive innovation and growth in the green economy.

Here are some of the ways that adhering to Article 6 principles can benefit businesses and organizations:

  1. 1. The creation of a mechanism for international cooperation, known as the "Article 6 mechanism," to facilitate the use of carbon markets to achieve the goals of the Paris Agreement.
  2. 2. The establishment of rules and procedures for the transfer of emissions reductions between countries, including the use of carbon credits generated by emissions reduction projects in one country to help another country meet its emissions reduction target.
  3. 3. Provisions to ensure the environmental integrity of carbon markets and the emissions reductions generated by carbon credits, including provisions to prevent double counting of emissions reductions and to ensure that emissions reductions are real, additional, and permanent.
  4. 4. Provisions to ensure that carbon markets are transparent and accessible to all countries, and that they support the development of sustainable and equitable carbon markets.

In conclusion, adhering to the principles of Article 6 can be impactful for businesses and organizations globally, as it provides an opportunity to reduce emissions, improve sustainability, and drive innovation and growth in the green economy. By working together and using carbon markets, businesses and organizations can help to achieve the goals of the Paris Agreement and transition to a more sustainable and equitable future.

Get in touch with our experts to understand the implications of Article 6 on your organisation, we’re here to help!