Article 6 of the Paris Agreement sets out the mechanisms through which countries can collaborate to achieve their climate goals, including the use of carbon markets and other collaborative methods. The utilisation of these approaches by nations has the potential to enhance their efforts to meet their Nationally Determined Contributions (NDCs), promote sustainable development, and protect the environment.
Activities are implemented or in preparation in almost 100 countries worldwide, with new projects being initiated on a monthly basis. Taking a closer look to our focus region, we see that approximately 200 Article 6 projects are currently in progress in African nations. The potential of carbon savings is amounting to hundreds of millions of tCO2eq with all of these activities implemented. The graph shows the distribution of projects by country. Several countries have recently concluded new agreements to implement frameworks and trade Article 6 credits (ITMOs), underscoring the growing commitment to collaborative climate action and the transformative potential of carbon markets on a global scale.
Source: UN Environment Programme – Copenhagen Climate Centre
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