Full Title: How to Fully Operationalize Article 6 of the Paris Agreement
Author(s): Gautam Jain and Shubham Deshmukh
Publisher(s): SIPA, Columbia
Publication Date: September 11, 2025
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Description (excerpt):
Article 6 of the Paris Agreement introduced a framework for voluntary cooperation between countries to reduce emissions, primarily using carbon markets, but putting it into practice has been difficult. While one transfer of carbon credits between two countries has occurred and there is broad agreement on key methodologies, such as for what constitutes additionality, further action is needed to close operational, governance, and capacity gapsFor a carbon credit market to become viable and scale up, high environmental integrity and investor protection is required, which necessitates establishing enforcement authority as well as capacity building for emerging economies’ participation, among other steps.