This milestone was one of the main priorities for the presidency this year, and it successfully pushed Parties towards this significant achievement through intensive two-track technical and political negotiations. This strategy has broken a long-standing deadlock and resolves the final unresolved issue of the Paris Agreement.
Article 6 ensures reliable and transparent carbon markets for countries cooperating to achieve their climate goals. It is expected that this cross-border cooperation will reduce the cost of implementing national climate plans (NDCs) by up to $250 billion annually.
COP29 leadership encourages Parties to reinvest these savings into even more ambitious climate goals. “The next generation of NDCs, which are to be adopted in February, is crucial for keeping the 1.5-degree target within reach. Today’s milestone was reached just in time to help countries make more ambitious commitments in their climate plans,” the COP29 presidency stated.
The result achieved today came after great efforts. While the COPs in Glasgow and Sharm el-Sheikh succeeded in setting important rules, conditions, and procedures for carbon markets, the final key elements of Article 6 remained unresolved. Before COP29, negotiations had stalled, causing costly delays in the full implementation of this pathway for closer international climate cooperation.
COP29 leadership employed a targeted approach that broke the previous multilateral deadlocks. Over the course of the year, the presidency facilitated productive interaction between Parties, advancing progress by bringing together technical and political discussions to reach a consensus. This laid the foundation for the swift adoption of the Article 6.4 standards on the first day of COP29, creating momentum for today’s breakthrough.
COP29 leadership gratefully acknowledges the many individuals and organizations who tirelessly worked for nearly a decade to achieve this. The consensus reached today would not have been possible without the progress they made over the years.
The decisions unanimously adopted today on Article 6 will play a key role in ensuring environmental integrity, transparency, and reliability of carbon markets through real, additional, verifiable, and measurable emission reductions and absorption, as well as unlocking their enormous potential for driving global climate investments.
The adopted guidelines and rules are designed to ensure that carbon projects remain practical and inclusive, respect human rights, and support sustainable development, allowing countries and project developers to collaborate confidently within the framework of the Paris Agreement. The adoption of these decisions does not mark the end of their evolution, as Parties may continuously adjust the rulebook of Article 6 as they learn from practical experience.
