#COP24 at Katowice, Poland could not finalize the rulebook for implementation of article 6 on market-based and non-market mechanisms under Paris Agreement. This position paper elaborates how regional carbon markets play role in implementation of article 6.2 on cooperative approaches. The negotiations are ongoing towards finalizing text by #COP25 at Chile. The position paper analyses the history of multilateral carbon mechanisms, issues related to their implementation and strengths/weakness of present draft text on article 6.2. The paper provides proposals for the use of regional carbon markets to implement article 6.2 on cooperative approaches and deliver significant sustainable development and climate mitigation contributions of NDCs.
The views expressed in the paper belong to authors and not to any organization or party.