Video message by YAMAGUCHI Tsuyoshi, Minister of the Environment, Japan, at Part 1 of the International Conference for Implementing Article 6 of the Paris Agreement (February 17, 2022)

Hello, everyone. I am Tsuyoshi YAMAGUCHI, Environment Minister of Japan. It is our great honor to host this international conference for implementing Article 6 of the Paris Agreement. And let me express my deepest gratitude to the UNFCCC Secretariat, COP26 presidency and COP27 incoming presidency for participating in this conference.

I think COP26 was a historical success. It urged ambitious actions for pursuing efforts to limit the temperature to 1.5 degree. The Paris Rulebook was completed, including the market mechanism rules of the Article 6. I feel very honored if Japan contributed to the success of COP26 by facilitating the agreement on Article 6, and by committing an additional 10 billion USD as climate finance.

In Glasgow, I had the opportunity to speak directly with other Ministers. Each meeting was very informative and fruitful. I am very glad that we worked together for the success of COP26.

This conference is mainly aimed to enhance the understanding and capacity building for implementation of the Article 6.

Enhancing mitigation efforts all over the world including in emerging economies and developing countries is critical to keep 1.5 degrees within reach.

Implementing of Article 6 mechanisms will promote efficient and additional emission reductions. More than 120 countries have expressed their will to utilize Article 6 in their NDCs. Some experts estimated that implementing Article 6 could reduce additional 9 billion tons of CO2 emission annually by 2030. This corresponds roughly to 30% of recent global CO2 emissions. Article 6 could also stimulate global decarbonization markets and private investments. Reduction of CO2 emissions and economic growth can go hand in hand together. Market mechanism will play a key role in reducing emissions worldwide.

In this conference, we will introduce leading examples of countries already implementing the Article 6 mechanisms. We hope that these presentations will contribute to the capacity building in other countries.

I sincerely hope that the exchange of experience and practical information on the Article 6 implementation throughout today's and next month's conference will contribute to further reduction of CO2 emissions through the acceleration of capacity building in as many countries as possible.

Thank you.