COP29 adopts decision on work programme for non-market approaches under Paris Agreement

  18 November 2024    Read: 367
COP29 adopts decision on work programme for non-market approaches under Paris Agreement

COP29 adopted a decision concerning the work programme under the framework for non-market approaches referred to in Article 6, paragraph 8, of the Paris Agreement, AzVision.az reports.

Article 6.8 provides Parties with opportunities for non-market-based cooperation to implement mitigation and adaptation actions, which includes promoting mitigation and adaptation ambition. The full operationalisation of Article 6 is one of the COP29 Presidency’s main priorities for its vision to enhance ambition and enable action. The full operationalization of Article 6 will help countries to save up about 250 billion dollars a year when implementing their Nationally Determined Contributions (NDCs).

On November 11, Parties agreed strong standards for a centralized carbon market under the UN under Article 6.4 of the Paris Agreement, ensuring the reliability of the international carbon market and supporting emission reductions.

 

AzVision.az


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