{"id":32972,"date":"2024-12-24T09:54:49","date_gmt":"2024-12-24T08:54:49","guid":{"rendered":"https:\/\/www.co2news.sk\/?p=32972"},"modified":"2024-12-24T10:06:04","modified_gmt":"2024-12-24T09:06:04","slug":"the-development-of-article-6-of-cop29-and-its-implications-for-carbon-markets","status":"publish","type":"post","link":"https:\/\/www.co2news.sk\/en\/2024\/12\/24\/the-development-of-article-6-of-cop29-and-its-implications-for-carbon-markets\/","title":{"rendered":"The development of Article 6 at COP29 and its implications for carbon markets"},"content":{"rendered":"<p>The 29th Conference of the Parties (COP29) to the United Nations Framework Convention on Climate Change (UNFCCC) was held in Baku, Azerbaijan, from 11 to 24 November 2024. with regard to Article 6.4, one with regard to Article 6.2 and one with regard to Article 6.8. In particular, these decisions, after nine years of negotiations since the 2015 Paris Agreement, contained the final agreements needed to finally move carbon markets under Article 6 towards functioning. (<em>Alex Blomfield, William Ferris, more on <a href=\"https:\/\/www.lexology.com\/library\/detail.aspx?g=6900b357-4c11-4429-a9f2-797ac5afc7fe&amp;utm_source=Lexology+Daily+Newsfeed&amp;utm_medium=HTML+email+-+Body+-+General+section&amp;utm_campaign=Lexology+subscriber+daily+feed&amp;utm_content=Lexology+Daily+Newsfeed+2024-12-24&amp;utm_term=\" target=\"_blank\" rel=\"noopener\"><span style=\"color: #0000ff;\">lexology.com<\/span><\/a>)<\/em><\/p>\n<p><strong>Glossary of key terms<\/strong><\/p>\n<p><strong>A6.4ER:<\/strong> Emission reductions approved by the Paris Agreement Credit Allocation Mechanism (PACM) under Article 6.4.<\/p>\n<p><strong>Authorization:<\/strong> The process by which a host country approves the use of emission reductions such as A6.4ER or ITMO.<\/p>\n<p><strong>CDM:<\/strong> The Clean Development Mechanism, established under the Kyoto Protocol, operated until 2020.<\/p>\n<p><strong>ITMO:<\/strong> Internationally transferable mitigation result, transferred between States pursuant to Article 6.2.<\/p>\n<p><strong>MCU:<\/strong> Mitigation Contribution Unit, emission reduction that was not authorized as A6.4ER.<\/p>\n<p><strong>NDC:<\/strong> Nationally Determined Contribution, a country&#039;s commitment to reduce emissions and adapt to climate change.<\/p>\n<p><strong>OIMP:<\/strong> Other international mitigation purposes, the use of emission reductions for purposes other than achieving NDCs.<\/p>\n<p><strong>PACM:<\/strong> Paris Agreement Credit Allocation Mechanism, Market for A6.4ER under Article 6.4.<\/p>\n<p><strong>First transfer:<\/strong> First official application of the corresponding adjustment (CA) in national registries, transferring the emission reductions to the acquiring party.<\/p>\n<p><strong>SBM:<\/strong> The supervisory authority under Article 6.4, which oversees the functioning of the PACM.<\/p>\n<p><strong>VCM:<\/strong> A voluntary carbon market where companies buy and sell emission reductions to offset their emissions.<\/p>","protected":false},"excerpt":{"rendered":"<p>The 29th Conference of the Parties (COP29) to the United Nations Framework Convention on Climate Change (UNFCCC) was held in Baku, Azerbaijan, from 11 to 24 November 2024. with regard to Article 6.4, one with regard to Article 6.2 and one with regard to Article 6.8. In particular, these decisions, after nine years of negotiations since the Paris Agreement [\u2026]<\/p>","protected":false},"author":7,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[26],"tags":[],"class_list":["post-32972","post","type-post","status-publish","format-standard","hentry","category-uhlikove-kredity"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.co2news.sk\/en\/wp-json\/wp\/v2\/posts\/32972","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.co2news.sk\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.co2news.sk\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.co2news.sk\/en\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/www.co2news.sk\/en\/wp-json\/wp\/v2\/comments?post=32972"}],"version-history":[{"count":0,"href":"https:\/\/www.co2news.sk\/en\/wp-json\/wp\/v2\/posts\/32972\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.co2news.sk\/en\/wp-json\/wp\/v2\/media?parent=32972"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.co2news.sk\/en\/wp-json\/wp\/v2\/categories?post=32972"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.co2news.sk\/en\/wp-json\/wp\/v2\/tags?post=32972"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}