Abatable & Gold Standard Announce New Article 6 Partnership

Abatable & Gold Standard Announce New Article 6 Partnership - Carbon Herald

Carbon intelligence and procurement platform Abatable and international standard and certification body Gold Standard are teaming on Article 6. 

Namely, both organizations are joining forces to help fill the knowledge gaps in both the public and private sectors pertaining to Article 6 of the Paris Agreement.

Article 6 famously deals with the process of countries transferring emissions reductions among each other, in order to bring more flexibility to national climate strategies. 

Specifically, Article 6.2 gives room for voluntary cooperation among countries to enhance their Nationally Determined Contributions (NDCs), which can be done in the form of a bilateral transaction between two countries or between a country and a private entity. 

The announcement of the partnership between Abatable and Gold Standard comes shortly after the – what many consider to be – a disappointing outcome of COP28 as far as Article 6 is considered. 

After prolonged negotiations behind closed doors, national leaders emerged late on the night from December 12 to the 13 with no decision on Article 6.2 and 6.4. 

Nevertheless, a handful of countries do have regulations in place to implement Article 6, and many are considering doing the same, which is where the joint efforts of Gold Standard and Abatable can come into play. 

Relevant: BREAKING: Countries Reject Article 6 At COP28

Both organizations plan to host a series of roundtables and webinars with key policymakers to discuss Article 6 agreements around the world and talk about new regulatory developments. 

Furthermore, their efforts will be focused on providing support to governments that wish to develop their own carbon market frameworks, as well offering valuable insights to investors and project developers on the implementation of Article 6 projects.

Valerio Magliulo, CEO and Co-founder of Abatable, said: “Our partnership with Gold Standard marks a key moment for both our organizations 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,” Megliulo concluded. 

Read more: Singapore Negotiates Carbon Credits Deals With Several Countries At COP28

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