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.
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Samples: Indo Pacific Economic Framework for Prosperity Agreement Relating to a Clean Economy, Indo Pacific Economic Framework for Prosperity Agreement Relating to a Clean Economy, Indo Pacific Economic Framework for Prosperity Agreement Relating to a Clean Economy
