Article 6 of the Paris Agreement – What is it and Why is it Important for Business?
The science is clear – we must halve emissions by 2030 and achieve net zero emissions by 2050 if we are to meet the goals of the Paris Agreement. To date, collective action is not sufficient to put us on track to this goal and therefore increased ambition and action to curb greenhouse gas emissions is needed. One of the keys to achieving this increased ambition lies in the effective and transparent implementation of Article 6 of the Paris Agreement – the last missing puzzle piece of the Paris Agreement Rulebook to be agreed at the next UN Climate Change Conference (COP26), which will be held in Glasgow in November 2021.
Article 6 of the Paris Agreement aims at promoting integrated, holistic and balanced approaches that will assist governments in implementing their nationally determined contributions (NDCs) – countries’ national emissions reductions targets – through voluntary international cooperation. This cooperation mechanism, if properly designed, could assist countries in raising the ambition of their NDCs and could also help to provide the policy foundation needed for the private sector to further drive investments in a sustainable and net-zero emissions economy, including through carbon pricing and emissions trading.
Building on notions and insights gained in the previous webinar, this second webinar will look at Article 6 more in detail. In particular, it will discuss research and modelling work on the environmental and economic potential of Article 6 and will review ongoing piloting efforts aimed at implementing Article 6 approaches in the real world. It will do so by bringing together a panel of key Article 6 practitioners and researchers from different backgrounds. Presentations and panel discussion will be followed by an interactive Q&A session with the audience.