Carbon Markets Clause Samples
Carbon Markets. The Parties intend to cooperate to promote and facilitate carbon market activities in the region. Such cooperation may occur in the context of other carbon market partnerships and capacity building initiatives, and may include:
(a) sharing information and best practices to promote compatibility, credibility, and stability in the development and implementation of carbon markets, including information and best practices regarding transaction and finance measures, related regulations, and cooperative approaches under Article 6 of the Paris Agreement;
(b) capacity building for participation in carbon markets, including for:
(i) planning for engagement in carbon markets to support mitigation plans;
(ii) engaging in, tracking, and reporting on cooperative approaches and activities under Article 6 of the Paris Agreement;
(iii) developing registries, including national registries, tracking systems, and their interoperability as relevant; and
(iv) enhancing the availability of local and regional validators and verifiers to effectively accommodate the expanding needs of carbon markets in the region;
(c) promoting availability, application, and alignment of carbon credit certification standards, such as their methodologies or procedures, with principles and safeguards for environmental and social integrity and transparency, including ensuring that mitigation activities and their results are real, measurable, independently verified, additional, and permanent (including avoiding or fully addressing any instances of reversals), avoid double counting, and contribute to sustainable development. This may include collaborating on the development of such mitigation activities, as appropriate, including under Article 6 of the Paris Agreement;
(d) encouraging public- and private-sector entities, including through partnerships or initiatives, to invest in, implement, or otherwise support high-quality mitigation activities, such as those implemented under Article 6 of the Paris Agreement, so as to generate credible supply and demand in international carbon markets; and
(e) promoting public- and private-sector partnerships involving carbon market activities that enable the implementation and achievement of nationally determined contributions and increased ambition of mitigation and adaptation in the region.
Carbon Markets. The Parties acknowledge the social, environmental and economic opportunities from Forests presented by emerging carbon markets.
Carbon Markets. The Paris Agreement establishes the international policy infrastructure required to support carbon markets, at a domestic, regional and international level. As discussed above, countries are able to include market mechanisms as part of the approach that they will use in their NDCs, supporting the possibility of domestic carbon markets. Countries are also able to jointly agree on NDCs, thus creating a framework by which regions could group together to develop carbon markets. Internationally, the new mechanism for mitigation and sustainable development outcomes could potentially allow for programs and projects to be developed for which outcomes could be traded in an international carbon market. While this high-level policy framework has been laid out by the UNFCCC, further detailed rules are still to be set down by the CMA. To that end, some of the key outstanding issues to be considered are: − how the CDM and generated CERs will interact with the mechanism. It is not clear at this stage whether CERs will be able to be used as part of the Agreement framework. However, a hint in this regard is that the Paris Decision encourages Parties to promote the voluntary cancellation of units issued under the Kyoto Protocol. − the nature and scope of the projects and programs which can be used as part of the trading mechanism. For instance, it will be important to determine with the mechanism will include sustainable development outcomes as well as carbon outcomes; − what "mitigation outcomes" will be encompassed by ITMOs , and whether all of such outcomes will be able to be used cooperatively with other countries; and − whether the new project mechanism, which does not expressly require projects to be located in developing countries, will allow for developed country project based international credit trading. In addition to the negotiated outcomes, there were also a number of multilateral information sharing and joint initiatives between negotiating states suggesting a resurgence of interest in carbon markets: − the Ministerial Declaration on Carbon Markets which was a coalition of countries formed to "ensure the development of standards and guidelines for the environmental integrity of international market mechanisms used towards nationally determined mitigation contributions"; − the Carbon Pricing Leadership Coalition, which is a group that aims to bring together government, private sector and civil society leaders to discuss carbon pricing; − the G7 Carbon Market Pl...