Decisions in key areas and adoption of rules for Article 6 of the Paris Agreement at COP26 in Glasgow sparked a growing interest in many countries which currently have no international emission cooperation mechanisms in place. The capacity building on carbon pricing is an integral part of the implementation of such mechanisms under Article 6.
A successful step in this direction was made in the Eastern Caribbean Region with a two-part training on carbon pricing held in Grenada on 20-22 April and St. Lucia on 25-27 April. The training provided government officials with tools and knowledge in the definition, design, and potential implementation of carbon pricing mechanisms. It highlighted key elements related to carbon pricing instruments that need special attention in the policy mix design and the implementation of domestic carbon pricing mechanisms.
The content sessions were complemented with activities and discussions as well as inputs from experts from the East and West Africa Alliances on Carbon Markets and Climate Finance, the International Carbon Action Partnership (ICAP), Ecosystem Marketplace, the Ministry of Energy of Chile, and the UNFCCC Secretariat and RCC Panama and RCC St. George's.
This offered the opportunity to explore options of carbon pricing best fit for the respective country and the way forward for the implementation of Article 6 in the regions.
About the UNFCC Regional Collaboration Centers (RCCs)
The Regional Collaboration Centers support national climate action through capacity-building, technical assistance and strategic networking – sourcing know-how and resources to drive clean development. They were established to spread the benefits of the Clean Development Mechanism (CDM), which spurs investment in sustainable development by rewarding projects that reduce greenhouse gas emissions. Since the adoption of the Paris Climate Change Agreement in December 2015, the RCCs have had the broader task of supporting implementation of countries' Nationally Determined Contributions under the agreement. Currently, UN Climate Change and its partner organizations operate six RCCs around the world.
About the Global Carbon Market (GCM)
The Global Carbon Market (GCM) project supports partner countries in using flexible carbon pricing mechanisms and other market-based instruments for climate change mitigation at national and regional levels. The project is implemented by the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH on behalf of the BMWK. The project also focuses on new cooperation mechanisms that may arise under Article 6 of the Paris Agreement and the voluntary carbon market.