Climate negotiators have released what is expected to be the second-to-last text before a finalized text is released tomorrow for passage up to the high-level negotiators. This story will be updated over the course of the day.
GLASGOW | 5 November 2021 | Article 6 negotiators this morning released new negotiating text for articles 6.2, which covers internationally-transferred mitigation outcomes (ITMOs), article 6.4, which covers the creation of a centralized hub, and article 6.8, which covers non-market mechanisms.
Negotiations then continued through the day, with an emphasis on crystallizing the language around areas of disagreement to be passed up to the higher-level negotiations next week – namely, the role of corresponding adjustments under both Articles 6.2 and 6.4, the fate of old Kyoto offsets under Article 6.4, and the shares of proceeds from a centralized market developed under Article 6.4, as well as the governance structure for that entity.
One of the more interesting developments is the emergence of Article 6.8 as a possible home for many of the sectoral pledges and initiatives that have emerged recently.
Article 6.8 was introduced in the closing days of the Paris climate talks at the insistence of Bolivia, which had taken a position opposed to market mechanisms. It calls for the need to recognize “integrated, holistic and balanced non-market approaches being available to Parties to assist in the implementation of their nationally determined contributions, in the context of sustainable development and poverty eradication, in a coordinated and effective manner, including through, inter alia, mitigation, adaptation, finance, technology transfer and capacity building, as appropriate.”
The final negotiating text is due Saturday, but there is a chance it could be delayed.
Here are the Friday morning texts:
For a deep dive into the intricacies of Article 6, check out Episode 71 of the Bionic Planet Podcast, available on all podcatchers, including iTunes, TuneIn, and Stitcher, as well as on this device here:
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