A little-known and highly technical section of the Paris Agreement could “make or break” the regime – and its aim of avoiding dangerous climate change. These “Article 6” rules, for carbon markets and other forms of international cooperation, are the last piece of the Paris regime to be resolved, after the rest of its “rulebook” was agreed in late 2018. To its proponents, Article 6 offers a path to significantly raising climate ambition or lowering costs, while engaging the private sector and spreading finance, technology and expertise into new areas. To its critics, it risks fatally undermining the ambition 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. If the Article 6 rulebook is to be agreed, a set of interlocking, overlapping and conflicting national priorities – a veritable “four-dimensional spaghetti” of red lines – will have to be traded off at the December COP25 UN climate talks in Madrid, or, failing that, at COP26 in Glasgow in 2020.
Carbon Brief 29th Nov 2019 read more »