Launch of the “Paris Agreement Article 6 Implementation Partnership”: Towards High Integrity Carbon Markets

On November 16, 2022, NISHIMURA Akihiro, Minister of the Environment, Japan declared the launch of the “Paris Agreement Article 6 Implementation Partnership” towards the development of high integrity carbon markets, at COP27.
 
The implementation of Article 6 is expected to revitalize decarbonization markets and private investment, and to contribute to global greenhouse gas (GHG) emission reductions and economic growth at the same time. On the other hand, institutional arrangements for implementing Article 6 and the sharing of knowledge are still issues to be addressed.
 
Therefore, the partnership will support capacity building in each country on implementation of Article 6, including by facilitating understanding of Article 6 rules and by implementing training, under international collaboration. At the time of launch (November 16, 2022), 40 countries and 23 institutions have pledged to participate, and we aim to further expand the partnership in the future.

In collaboration with the countries and international institutions participating in the partnership, Japan will take the lead in the global expansion of the market mechanisms in line with the Paris Agreement Article 6 and contribute to further global greenhouse gas emission reductions.