Bangkok, 3 September - International climate negotiators gather this week in Bangkok for the second part of the 48th meeting of Subsidiaries Bodies to the UNFCCC (SB48-2), with the objective of advancing work on the Paris Agreement "rulebook". The outcome of the talks, which is due to be adopted at COP24, will be a set of rules and implementing details needed to bring the Paris Agreement to life, including guidance for market provisions under Article 6.
Negotiators are mindful that this is the last chance to narrow differences among Parties before COP 24. In the Article 6 discussions, Parties are tasked to produce a draft negotiating text by the end of this week, based on the revised versions of the three informal notes adopted at the first part of SB48 in Bonn in May.
“It’s time for negotiators to get down to business in Bangkok, since they need to have a negotiating text ready by the start of COP24” said Stefano De Clara, head of international policy at IETA. “This is the last opportunity to make progress ahead of COP 24, and the business community is hoping to see real momentum created in Bangkok.”
"We expect the Article 6 talks to keep pace with the other main negotiating tracks - such as transparency, finance, technology and adaptation,” said Dirk Forrister, IETA’s president and CEO. "As much as we want closure on the Article 6 portion of the Paris rulebook, it has to be seen as part of a larger package for Katowice.”
IETA will closely follow the discussions on Article 6 of the Paris Agreement, which aim to develop a set of guidelines and rules for cooperative approaches to implement nationally determined contributions (Art. 6.2), for a market mechanism to enable emission reductions (Art. 6.4) and for non-market mechanisms (Art. 6.8).