Abatable and Gold Standard have joined forces to equip governments, carbon project developers and investors with the tools to understand and navigate new regulations and policy changes affecting the carbon market, including those related to Article 6 of the Paris Agreement. The partnership draws on the unique strengths of both organisations to address a key knowledge gap as regulations emerge across the world, and as the private sector grapples with participation within the Article 6 framework.
Article 6 of the Paris Agreement allows countries to transfer emissions reductions between each other to enable flexibility in meeting national climate goals. Article 6.2 recognises the potential for voluntary cooperation among countries to enhance their Nationally Determined Contributions (NDCs) and promote sustainable development. Under the mechanism, a host country can transfer Article 6.2 units (ITMOs) to a buyer country through a bilateral agreement, or to a private entity. ITMOs benefit host countries by attracting investments, facilitating technology and knowledge transfer, creating jobs and enabling sustainable development, while buyers can meet their NDC ambition through cost-effective projects.
Despite its potential, only a handful of countries have issued regulation to implement Article 6. The next few years are expected to see a growth in the number of countries taking steps to use Article 6, as well as to regulate market activities more widely. Abatable and Gold Standard’s joint agenda will focus on fostering a community of practice around the lifecycle of Article 6 implementation, from the regulators and policies through to the implications for developers and investors.
The Abatable and Gold Standard partnership will focus on two key work streams:
- A webinar and roundtable series: sharing unique insights, experiences and best practices on national carbon policies, with key policymakers discussing new regulatory developments and Article 6 agreements across the world;
- Actionable policy insights: supporting governments to develop carbon market frameworks conducive to national climate objectives, and project developers and investors to implement Article 6 projects.
Abatable is a leading carbon intelligence and procurement platform developing analysis to address challenges in the voluntary carbon market (VCM). The partnership with Gold Standard builds on Abatable’s VCM policy intelligence, which includes the recently launched VCM country policy profiles. Abatable’s focus on VCM policy is part of its wider market intelligence product suite1, aimed at improving the data infrastructure for decision-makers within a complex and evolving market.
Gold Standard is an independent international standard-setting and certification body that manages standards and provides services to help different actors achieve ambitious sustainable development and climate goals. Its standard, Gold Standard for the Global Goals, allows climate and development initiatives to manage, measure and maximise their impacts toward climate security and sustainable development. Gold Standard has extensive experience in carbon markets and capacity-building initiatives, including, most recently, its Article 6 Early Mover Programme.
Valerio Magliulo, CEO and Co-founder of Abatable, said: “Our partnership with Gold Standard marks a key moment for both our organisations as we work to better support governments, project developers and investors to navigate the complexities of Article 6. We need strong carbon markets to bring climate finance to the landscapes most in need, and Article 6 has immense potential to unlock the flows of finance that are required. But it is a complex mechanism. Our partnership will address the skills and knowledge gap that currently exists around Article 6, and we’re thrilled to be joining forces with Gold Standard to help us get there.”
Margaret Kim, CEO of Gold Standard, said: “By smoothing the way for countries and companies to effectively contribute to global climate goals we can help carbon markets achieve the highest levels of environmental integrity and drive more sustainable development. Through this programme, we’re committed to ensuring that the ambition of the Paris Agreement is met with the rigour and transparency necessary to deliver real impact where it matters most.”
To stay updated on the webinar and roundtable series organised by Gold Standard and Abatable, please register your interest here.
Sophie Arndt, Communications & Engagement Manager, Abatable: firstname.lastname@example.org
Jamie Ballantyne, Director of Marketing and Communications, Gold Standard: email@example.com
1 Abatable’s additional market intelligence solutions, powered by its technical expertise and proprietary data, include carbon pricing intelligence, credit supply insights, carbon project intelligence and regular market updates.