One of the successes of COP26 was the finalization of the Paris Rulebook through the agreement on Article 6 guidelines. The potential benefits of cooperation in achieving NDCs using Article 6 are significant for all Parties to the Paris Agreement.
The objective of this note is to highlight important elements for the business sector to help maximize the impact and use of Article 6. The note identifies key elements that governments need to consider and address to mobilize private sector resources and investment towards Article 6 mechanisms.
It also has organized them into six key categories - intention, authorization, transparency, interoperability, accountability and capacity building - and has provided specific recommendations for each.