Article 6 of the Paris Agreement adopts Market instruments and non-market approaches market for the “voluntary cooperation in the implementation of their nationally determined contributions to allow for higher ambition in their mitigation and adaptation actions and to promote sustainable development.”
The publication “The competitive advantages of Brazil in the Market instruments of the Paris Agreement”analyses the market instruments of Article 6 that will allow cooperation between the signatory countries of the Paris Agreement through the trade of outcomes or credits of mitigation associated with activities to reduce, remove or sequester greenhouse gas (GHG) emissions.
It also point out recommendations to be discussed with academia, civil society and the national productive sector, seeking to outline a Brazilian position in the regulation phase, whose negotiation will take place at the next Conference of the Parties (COP 26), set to occur in November 2021, in Glasgow, Scotland.
The topic was discussed on April 20, when the Environment and Climate Change Nucleus of the Brazilian Center for International Relations (CEBRI) held the webinar “COP26 and the carbon market: the challenges of the negotiations of article 6, of the Paris Agreement.” Mediation was by Ana Toni (executive director of iCS), the opening by Izabella Teixeira, Senior Fellow of CEBRI and former Minister of the Environment, with presentations by Seroa da Motta, with his publication, and by Roberto Waack, president of the board of the Arapyaú Institute.
“Article 6 is the subject that has still not been agreed upon in the rule book of the Paris Agreement, and is the last area to be agreed, and so there is significant expectation for Glasgow, at COP26. Brazil has been an absolutely central player in this debate,” said Ana Toni. “Article 6 has a mechanism of cooperation between the signatory parties of the agreement and has the objective to make the NDCs more ambitious and to accelerate the low-carbon trajectory,” explains Seroa.