Kuensel | YK Poudel | August 7, 2024
Ahead of the 29th Conference of Parties (COP29) in Baku, Azerbaijan, Party members from seven regional countries in South Asia are participating in a four-day regional workshop on Article 6 and carbon pricing, which began in Thimphu on August 5.
Organised by the United Nations Framework Convention on Climate Change (UNFCCC) and the Ministry of Energy and Natural Resources, the workshop is a part of the Paris Agreement’s Article 6 (carbon markets) Capacity-Building Work Programme.
During the opening session, UNFCCC Manager, Perumel Arumugam, described the discussion on Article 6 as a learning process that the world has been engaging in for some time now.
Despite the market potential, he noted that many countries struggle to understand and leverage the full potential of Article 6 due to the complex rules, processes, technical requirements, and ongoing multilateral negotiations. “Similar meetings will be held worldwide over time.”
Article 6 of the Paris Agreement is a crucial international mechanism that enables countries to collaborate in mitigating greenhouse gas (GHG) emissions through market and non-market approaches.
Following COP27, the UNFCCC Secretariat launched the Article 6 Capacity-Building Work Programme to assist countries in effectively implementing Article 6 through its Regional Collaboration Centers.
The workshop aims to address the capacity-building needs related to Articles 6.2 and 6.4, engaging countries and other stakeholders in the region. It will equip participants with the necessary knowledge to implement Article 6 and foster regional engagement.
Key topics include various collaboration instruments, institutional arrangements, procedures, and strategies for approaching Article 6. Technical discussions will cover understanding carbon markets and their interlinkages with Nationally Determined Contributions, planning actions for Article 6 in South Asian countries.
The workshop will explore the mechanisms and frameworks of Article 6, such as 6.2, 6.4, and 6.8, to facilitate international carbon credit markets and trading. Over 60 participants from seven countries—India, Bangladesh, Nepal, Sri Lanka, Maldives, Pakistan, and Bhutan—representing both government and private sectors, are involved in the discussions.
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