by Nicole Krämer, Stephan Hoch, Ousmane Fall Sarr, Thiago Chagas, Tobias Hunzai, Axel Michaelowa, Sandra Greiner
The policy brief highlights that active participation of African countries in designing Article 6 guidance and rules as well as the early onset of piloting activities are at the core of fostering Africa’s long-term position in the emerging carbon markets.
- The rulebook on Article 6 has to be inclusive and designed to encourage participation from all countries and private sector stakeholders.
- Engagement by African countries in Article 6 should be facilitated from the very start by leveraging the existing domestic Clean Development Mechanism (CDM) pipeline and related infrastructure.
- Initiatives that build on successful CDM reforms such as scaled-up programmatic crediting approaches with high sustainable development impacts are particularly promising for Africa.
- Article 6 offers opportunities to tap into new finance streams, but also defines a new set of potentially challenging requirements.
- African countries are actively participating in a number of initiatives related to market readiness and possible Article 6 pilot activities.