Lessons learned from the Kyoto mechanisms for the article 6.4 mechanism

In: Climate change 2024, 2

Abstract

This report summarizes key lessons learned from the Kyoto Protocol's Clean Development Mechanism (CDM) and Joint Implementation (JI) for the new Article 6.4 mechanism of the Paris Agreement. The report first provides an overview of the issuance and use of carbon credits under these mechanisms. This is followed by an assessment of what elements of the existing mechanisms could be transferred to the Article 6.4 mechanism. Some provisions from the CDM can be transferred with only minor adjustments as they are the result of substantial refinement and overhaul. This includes the rules and regulations for the project cycle, accreditation of auditors, validation and verification, provisions to ensure transparency and the governance structure. However, in other areas, Article 6.4 rules should be strengthened compared to the CDM and JI, mainly with regard to demonstrating additionality, quantifying emission reductions, addressing non-permanence and social and environmental safeguards. Based on the experiences with CDM and JI, we recommend that mitigation activities under the Article 6.4 mechanism should be considered 'high-hanging fruits', enhance ambition, have a high likelihood of additionality, provide co-benefits for other sustainable development targets, and ensure that emission reductions can be reasonably attributable to the mitigation activity.