Carbon markets - greenhouse gas emissions trading
Carbon markets are created when market-based climate change mitigation instruments take effect and carbon certificates are traded. Market-based climate change mitigation instruments levy charges on the emission of greenhouse gases and so help to ensure the efficient implementation of mitigation measures.
Supporting ambitious NDCs
One of the effects of the Paris Agreement is to create a long-term framework for the international carbon market. The mechanisms for cooperation set out in Article 6 of the Paris Agreement offer signatory parties the opportunity to work together on the implementation of their nationally determined contributions (NDCs).
These cooperation mechanisms are not merely intended to simplify the implementation of existing climate change targets but also to raise the ambition levels of future targets and to promote sustainable development.
Approaches of IKI
International Climate Initiative (IKI) is working to support the development of a global carbon market with the aid of various platforms that are creating robust rules and standards for the use of such markets, as well as organising and orchestrating knowledge transfer between participating countries.
Partner countries are also being assisted in efforts to develop, prepare and implement market-based instruments such as emissions trading systems, as well as pilot projects for international cooperation according to Article 6 of the Paris Agreement.
Videos on this topic
The link has been copied to the clipboard