Description

The Article 6 of the Paris Agreement lays the foundation for countries to use cooperative approaches in achieving and raising climate ambitions articulated in their respective nationally determined contributions. As the rulebook for Article 6 is expected to be adopted at COP25 in Madrid, it is pertinent to learn from the wealth of knowledge and experience of the existing mechanisms. The Joint Crediting Mechanism initiated by the Government of Japan in 2013 demonstrates how bilateral cooperative approaches could be designed and implemented for fostering mitigation actions to the benefi t of partnering countries. This publication is an eff ort to provide insights into the Joint Crediting Mechanism and the lighthouse it could provide for navigating ongoing negotiations on Article 6 of the Paris Agreement and guiding future development of new market mechanisms.