Part 2: The Value of Article 6 and Current Implementation Efforts
Article 6 of the Paris Agreement aims at promoting integrated, holistic and balanced approaches that will assist governments in implementing their nationally determined contributions (NDCs) – countries’ national emissions reductions targets – through voluntary international cooperation.
Different countries in Africa are in the process of developing their long-term strategies. In order to demonstrate the benefits of long-term planning and showcase the lessons learned from countries, the GIZ Global Carbon Markets (GCM) Programme in Uganda and Tunisia with support from the Germany Federal Ministry of Environment, Nature Conservation and Nuclear Safety in partnership with the Climate Finance Innovators (CFI) Project and the World Bank conducted a webinar during the Innovate4Climate online sessions.
This event shares insights from the updated study on global Article 6 piloting and enabling initiatives, including stakeholder experiences made so far.
The event introduces the next generation of global carbon markets under Article 6 of the Paris Agreement. Drawing on work from the IKI funded Climate Finance Innovators (CFI) and West African Alliance on Carbon Markets and Climate Finance 2020-2023 (WACC) projects, the presentation focuses specifically on the relevance of Article 6 for Africa.
The event presents initiatives from African countries that develop innovative synergies between market mechanisms and climate finance. Senegal showcases how these activities support in achieving their NDC targets as well as readiness preparations for next generation carbon markets under Article 6.