Article 6 carbon markets
Topic: Climate Change: Causes, Evidence and the Global Response · NCERT: Beyond NCERT
Meaning
Article 6 of the Paris Agreement lets countries work together to meet their climate targets. It has three parts:
- Article 6.2 lets one country transfer emission cuts to another. These transferred cuts are called ITMOs. "Corresponding adjustments" are book-keeping rules that stop the same cut from being counted twice.
- Article 6.4 sets up a UN-supervised system for issuing carbon credits. It replaces the Clean Development Mechanism (CDM) of the Kyoto Protocol.
- Article 6.8 covers cooperation that does not use markets.
The rules were finished at COP29 in Baku in 2024.
Example
India has listed activities that are open to Article 6.2 deals with other countries. These include green hydrogen, offshore wind and energy storage (verify current).
Don't confuse with
- Clean Development Mechanism (CDM): this was the older credit system under the Kyoto Protocol, and India hosted many CDM projects. Article 6.4 now replaces it.