All reasonable efforts have been made to ensure the accuracy of this information at the time the advice was produced (please refer to the date produced below). However, the materials have been prepared for informational purposes only and may have been superseded by more recent developments. They do not constitute formal legal advice or create a lawyer-client relationship. You should seek legal advice to take account of your own interests. To the extent permitted any liability is excluded. Those consulting the database may wish to contact LRI for clarifications and an updated analysis.
Date produced: 30/05/2022
Article 6.2 and 6.4 of the Paris Agreement describes two market approaches for voluntary cooperation which parties can use to achieve their NDCs. Guidance on the international transfer of mitigation outcomes, as well as rules, modalities and procedures for a centrally governed crediting mechanism to support sustainable development were adopted in Glasgow last year. This briefing provides a brief summary and overview.
*A version of the explainer in French is also available to download below*