Article 6 Under The Paris Agreement Upsc
There is a degree of optimism in the air, stifled by the understanding that most of the issues from the beginning remain unresolved. « There is a false side and a right side [for these issues]. There is a « world is flat » and a « world is not flat » … Article 6 has the ability to proactively undermine action against climate change in a way that is not another part of the Paris Agreement. In addition, the Co2 reductions covered by Section 6.4 « may also be used by another party in accordance with its NDCs. » It is essential that Article 6.5 stipulates that these economies « should not » be used by the host nation to fulfill its own NDC, even if they are used to achieve the NDC`s objectives in another country. Similar restrictions probably apply to use under Corsia. It is a multilateral agreement within the framework of the United Nations Framework Convention on Climate Change (UNFCCC); reducing greenhouse gas emissions. The adoption of a replacement system in accordance with Article 6.4 could create the necessary conditions for countries to set more ambitious targets, since they would have to meet their targets at a lower cost. But as Carbon Market Watch explains, things are a little more complicated: according to a recent World Bank report, nearly 8,000 projects are registered under the CDM, some of which could continue for many years. Several countries in which a large number of ongoing CDM projects are being implemented, such as Brazil and India, are working to enable a full transition, while others fear that this will undermine Paris` ambitions by achieving already low targets without additional efforts to reduce emissions. This could include activities similar to those covered by Section 6.2 or 6.4 without the additional commercial element. For example, a country could support a renewable energy program abroad through concession loan financing, but there would be no exchange of emissions reductions. Negotiators are also fighting a second source of potential perverse incentives under Article 6 that could oppose the entire Paris agreement and weaken climate ambitions. A new international climate regime will come into force on 1 January 2020 as part of the 2015 Paris Agreement, in line with detailed rules agreed at the COP24 climate summit in December 2018.
The nature of the « internationally transferred mitigation outcomes » (ITMOs) covered by Article 6.2 is being discussed, with some countries intending to decide for themselves what they can do and others that want all co2-tonne emissions operations to be covered. While the Paris Agreement only mentions OMGE`s article 6.4 objective, there is a strong advance of the countries at risk, in particular to ensure that it also covers the trade covered by Article 6.2. Critics say it risks fatally undermining the ambitions of the Paris Agreement at a time when there is clear evidence of the need to go further and faster to avoid the worst effects of climate change.