Carbon crediting guidance agreed ahead of COP28

The United Nations Body tasked to operationalize a new UN carbon crediting mechanism under the Paris Agreement has agreed on recommendations for crucial guidance on greenhouse gas removals and mechanism methodologies.

The Article 6.4 Supervisory Body held an additional virtual meeting ahead of COP28 on Saturday, where they reached an agreement to adopt both guidance documents and submit them for approval by the Parties to the Paris Agreement (CMA) in Dubai.

The intense discussions followed directly after the Body’s meeting in Bonn at the start of November and spanned two weeks, over which members worked together to overcome challenges and reach consensus.

The new Paris Agreement crediting mechanism aims to facilitate international collaboration in reducing emissions and combating climate change.

The agreement reached on key guidance this week was an essential element in ensuring that the mechanism becomes operational next year.

The Supervisory Body agreed on the practical standards for the development of carbon crediting methodologies under the new UN mechanism.

The new guidelines focus on ensuring the mechanism benefits the environment, host countries and buyers alike.
The Supervisory Body has received over 400 submissions from organizations on this topic, with input from hundreds of experts.

The recommendations will now go to the CMA, which oversees the implementation of the Paris Agreement, for adoption by the CMA in Dubai from 30 November to 12 December 2023.

Commenting on the meeting, Olga Gassan-zade, the Chair of the Article 6.4 Supervisory Body, said “The recommendations on greenhouse gas removals and methodology requirements have been the most difficult part of our work over the past 18 months because of their weight and significance for the mechanism as a whole, but I believe we were able to find a way forward that allows us to deliver on our mandate and sets out a work programme to continue improving and expanding the framework for the Paris Agreement crediting mechanism established by the Parties in Glasgow”.