At the Bonn climate change conference, further foundations were laid for Article 6 of the Paris Agreement

The Bonn Climate Change Conference has seen limited progress in addressing outstanding issues related to Article 6 of the Paris Agreement, which aims to spur international cooperation on climate change mitigation through carbon credit market and non-market mechanisms. Many issues remain unresolved as we approach COP29 in November 2024.

Article 6 of the Paris Agreement

Although the Bonn Climate Change Conference organized four negotiations and five side events on Article 6 of the Paris Agreement ¹ , did not reach consensus on resolving open questions about the functioning of the international market for carbon credits under the Paris Agreement. Countries disagreed on the extent to which emissions avoidance can be used to generate carbon credits, which components of Article 6 carbon credit schemes should be centralized and other important points highlighted in our previous alert. (Seth Kerschner, Ingrid York, William De Catelle, more at lexology.com)