WHAT IS ARTICLE 6?
Article 6 of the Paris Agreement introduces a framework that acknowledges the voluntary cooperation among countries in implementing their Nationally Determined Contributions (NDCs) to elevate mitigation and adaptation efforts while fostering sustainable development and environmental integrity. This voluntary collaboration, outlined in Article 6.2, facilitates the exchange of Internationally Transferrable Mitigation Outcomes (ITMOs) between diverse actors, encompassing countries and private sector entities through bilateral agreements. Under this article, countries have the opportunity to transfer carbon credits earned from greenhouse gas (GHG) emissions reduction activities, ultimately aiding others in meeting their climate targets, while maintaining the development benefit in the transferring country.
The mechanism set forth in Article 6.2 is country-driven and establishes the groundwork for trading GHG emission reductions to between participating countries and other market actors, as outlined in Article 6.4. Notably, Article 6.8 recognizes non-market approaches to advance mitigation and adaptation goals.
Essentially, Article 6 underscores that cooperative efforts can yield multifaceted development benefits, offering a flexible and effective framework to address climate challenges while promoting sustainable development on a global scale.