Last updated
11 November 2024
CMA decision to ‘take note of’ methodologies and removals standards
The CMA effectively endorsed the SB’s approach of elevating the methodologies and removals ‘recommendations’ to ‘standards’ in October 2024.
Overview
What is Article 6.4?
Article 6.4 of the Paris Agreement is a centralised carbon crediting mechanism, which aims to facilitate international cooperation in achieving climate targets through the issuance and transfer of carbon credits, known as A6.4 ERs (Article 6.4 Emission Reductions) or A6.4 MCUs (Article 6.4 Mitigation Contribution Units). Under the Article 6.4 mechanism, countries must approve the registration of emissions reduction or removal activities hosted in their territory. These activities are required to follow approved methodologies, comply with validation, monitoring and verification requirements and follow a specific cycle for the issuance of A6.4ERs.
Not before time we may get an internationally recognized and enforced regulatory regime and set of standards that will provide some certainty for project developers.