COP29 update: what agreement on Article 6.4 means for carbon markets
On day one of COP29, we finally saw agreement on Article 6.4 after three years with little to no progress.
The Parties to the Paris Agreement (CMA) adopted the standard for development and assessment of methodologies and the standard for activities involving removals under the Article 6.4 Mechanism.
The adopted standards enable the Article 6.4 mechanism to be operationalised with remaining practical elements to be decided upon following COP29.
Contents
Introduction
The CMA adopted proposed standards on methodologies and carbon removals for Article 6.4
Article 6.4 goes above and beyond provisions set out in the CDM to increase integrity
Next steps for Article 6.4
BeZero welcomes the much-needed progress on Article 6.4