Background

Article 6 of the Paris Agreement establishes three approaches for countries to voluntarily cooperate in achieving their emission reduction targets and adaptation aims set out in their Nationally Determined Contributions (NDCs). The advancement of Article 6 implementation will require a common and collective understanding of the rules adopted at COP26 in Glasgow and COP27 in Sharm El-Sheikh, as well as the outcomes of the conversations which took place at SBSTA 58 in Bonn, and the outcomes of the recent meetings of the Article 6.4 Supervisory Body.

Market-based mechanisms constitute an opportunity for private entities to attain their Net Zero goals. Carbon markets hold the potential to contribute to the requisite scale of climate finance required for meaningful climate action. The private sector plays an imperative role in the implementation of mitigation measures as these actions would be translated into tangible emission reductions across multiple sectors. Accordingly, it is important to build the capacity of various private sector stakeholders to enable this participation.

The World Green Economy Organisation (WGEO) and the UAE Independent Climate Change Accelerators (UICCA), in collaboration with the UNFCCC Regional Collaboration Centre (RCC) for Middle East, North Africa and South Asia (established in collaboration with WGEO and based in Dubai) are organizing a capacity-building workshop to enhance private sector readiness for Article 6 participation. The workshop is scheduled on the 5th Oct 2023, in Abu Dhabi.

Objectives

The overall objective of this workshop is to build the capacity of private sector for their participation in the Article 6 implementation. This would enable the private sector stakeholders to mobilise the relevant mitigation projects in multiple sectors and to participate in carbon markets through cooperative approaches (Article 6.2) and mechanisms (Article 6.4) of the Paris Agreement. To increase private sector stakeholders’ understanding and readiness for participation in Article 6, the workshop will aim to:

Enhance overall understanding of the provisions of Article 6 of the Paris Agreement, including Private Sector participation requirements

Highlight the role of the private sector, in supporting host countries to achieve their NDCs under Article 6 Mechanism

Provide an overview of the roles and responsibilities of Article 6.2 and 6.4

Offer insights on the CDM Transition to Article 6.4 mechanism

Share information on existing Article 6 programs and initiatives

About the Organisers

The UNFCCC Regional Collaborations Centres (RCCs) including RCC for MENA and South Asia (based in Dubai) facilitate national climate action through capacity-building, technical assistance, and strategic networking, mobilizing the know-how and resources to drive sustainable development. RCC MENA and South Asia facilitates climate action in 22 MENA countries and 8 South Asian countries and enhances regional collaboration to drive global progress. The RCC facilitates the implementation of the Paris agreement by engaging Parties and non- Party stakeholders including youth. RCC MENA and South Asia provides cross-cutting support across all climate action areas, including mitigation, adaptation, transparency, means of implementation and sustainable development and participation.

World Green Economy Organisation (WGEO) is a prominent international body dedicated to advancing sustainable development through the promotion of green economic practices. WGEO plays a pivotal role in advocating for a global transition towards environmentally friendly economies, emphasizing the importance of sustainability, innovation, and equitable growth. Through its initiatives, WGEO drives collaboration among governments, businesses, and civil society to accelerate the adoption of green technologies and policies for a resilient and prosperous future.

UAE Independent Climate Change Accelerators (UICCA) is a key driving force in the United Arab Emirates' efforts to combat climate change and transition towards a sustainable future. UICCA focuses on accelerating climate actions across various sectors by facilitating partnerships, implementing initiatives, and fostering innovation. Its initiatives are aligned with international commitments, emphasizing the UAE's dedication to reducing carbon emissions, enhancing energy efficiency, and promoting sustainable practices. UICCA's contributions play a vital role in positioning the UAE as a leader in global climate action.

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