Background:
This side event presented the status for operationalization of Article 6 in the region, their relationship with Nationally Determined Contributions (NDCs), and the integration with nationally determined contributions (NDCs) and national carbon pricing mechanism. It promoted a dialogue that offered an updated perspective on how countries are positioning themselves to engage in Article 6, leveraging both existing carbon pricing infrastructure and new opportunities for cooperation.
Additionally, this event took the opportunity to present key findings from the Concept Paper on the progress of operationalization of Article 6 in Latin America, coordinated between CCAP and RCC LatAm, which evaluates the region’s progress, challenges, and priorities in implementing Article 6. Furthermore, the event served as the official launch of the Carbon Markets Observatory Initiative financed by the European Union through Euroclima Program and supported by UNEP and RCC LatAm.
The Regional Collaboration Centre for Latin America (RCC LatAm), in coordination with the Center for Clean Air Policy (CCAP) and the United Nations Environment Programme (UNEP), hotsted this side event to provide a platform for Latin American countries to share experiences, discuss best practices, and identify challenges and opportunities related to the implementation of Article 6.
Objectives:
- Present early findings on the progress of operationalization of Article 6 in Latin America.
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Discuss opportunities and challenges for developing cooperative approaches of Article 6, with a focus on capacity building, governance, and ensuring environmental integrity.
Key takeaways:
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Presentation of the Concept Note on Article 6 Operationalization in Latin America: The event highlighted progress in the implementation of Article 6 in Latin America with a presentation of the main findings from the Concept Note on its operationalization in the region. CCAP provided an overview of the current landscape, key trends, and some of the challenges that Latin America faces in implementing market-based carbon pricing instruments, aligned with climate objectives set in their NDCs.
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Launch of the Carbon Markets Observatory Initiative funded by the European Union through the Euroclima Program: Led by UNEP, the event also served to launch the Carbon Markets Observatory for Latin America and the Caribbean. This observatory will serve as a hub for collecting, researching, and systematizing information related to carbon markets and Article 6 implementation in the region. Its goal is to strengthen decision-making capacities and facilitate the coordination of stakeholders. During 2025, UNEP and the Regional Collaboration Center for Latin America (RCC LatAm) of UN Climate Change will work on the implementation and consolidation of this platform.
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Regional Dialogue on Challenges and Needs in Article 6 Implementation: Through an interactive dialogue, high-level delegates from countries such as Chile, Guatemala, and Panama, as well as the Development Bank of Latin America and the Caribbean (CAF), discussed barriers, capacity-building needs, and strategies to close gaps in the implementation of Article 6, thus fostering regional collaboration
Watch the event again:
Credit: UN Climate Chante
Credit: UN Climate Change
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Credit: UN Climate Change
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Credit: UN Climate Change
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Credit: UN Climate Change
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Credit: UN Climate Change
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Credit: UN Climate Change
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