Carbon Market Negotiations Under The Paris Agreement

Kelley Kizzier, now vice president in charge of international climate at the US NGO Environmental Defense Fund (EDF), co-chaired the Article 6 negotiations at COP24. She recounts Carbon Brief: The three separate mechanisms – in Articles 6.2, 6.4 and 6.8 – have all been part of the Paris Agreement by recognizing the different interests and priorities between the parties to the agreement. These differences persist and need to be replaced again if the regulatory framework provided for in Article 6 is to be agreed. During the COP24 discussions in December 2018, it was widely reported that Brazil was insisting on rules deemed unacceptable to many other countries. Carbon Brief understands that Brazil has some support from Russia and India, although this support has often been tacit in formal discussions. It would replace the Clean Development Mechanism (CDM), which operated under the Paris Agreement`s predecessor, called the Kyoto Protocol, and which gave industrialized countries legally binding emission targets, which applied from early 2008 to 2012. . .

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