Business views on Article 6—for Parties

With the upcoming first period of NDC reviews approaching in 2020, ICC urges Parties to reach a conclusion on the effective and transparent implementation of Article 6 at COP25 in Madrid.

Article 6 of the Paris Agreement, if designed and implemented appropriately, can be a driver for enhanced ambition of the Nationally Determined Contributions (NDCs); set a framework for effective carbon pricing; create new channels for climate finance; lead to technology transfer and capacity-building; and help to support sustainable development in many ways.

This document for policymakers sets out ICC’s comments and recommendations on the implementation of article 6 of the Paris agreement.

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Business strongly supports the use of market-based approaches under the Paris Agreement. Article 6 of the Paris Agreement, if designed and implemented appropriately, can be a driver for enhanced ambition of the Nationally Determined Contributions (NDCs); set a framework for effective carbon pricing; create new channels for climate finance; lead to technology transfer and capacity-building; and help to support sustainable development in many ways. With the upcoming first period of NDC reviews approaching in 2020, ICC—on behalf of 45 million institutional members in over 100 countries—is urging Parties to reach a conclusion on the effective and transparent implementation of Article 6 at COP25.

ICC’s comments and recommendations on the implementation of article 6 of the Paris agreement

  1. Build and agree on a framework for measuring, reporting and verification (MRV)
  2. Integrity, transparency and reliability
  3. Ambition and predictability
  4. Technological neutrality and cost effectiveness
  5. Accessibility by parties and business
  6. Sectoral baselines and standards for emission reduction levels
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