Oxford Principles for Responsible Engagement with Article 6
Article 6 of the Paris Agreement creates an international framework for market-based cooperation between countries and/or entities “to allow for higher ambition in their mitigation and adaptation actions and to promote sustainable development". Article 6.2 provides a framework for engaging in cooperative approaches involving internationally transferred mitigation outcomes (ITMOs). Article 6.4 creates a new United Nations carbon crediting programme, also known as the Paris Agreement Crediting Mechanism (PACM), overseen by the Article 6.4 Supervisory Body. Articles 6.2 and 6.4 are operationalised through decisions taken under the Paris Agreement. While distinct systems, they can intersect, as emission reductions or removals issued as Article 6.4 Emission Reductions (A6.4ERs) under the PACM, or by other eligible carbon crediting programmes can be authorised under Article 6.2 as ITMOs. A6.4ERs that are not authorised as ITMOs are referred to as Mitigation Contribution Units (MCUs).