Dubai, November 26, 2023.
After long debates, including suggestions from 400 organizations and contributions from hundreds of experts on the topic, the Article 6.4 Oversight Body reached an agreement to adopt guidance on greenhouse gas removals and methodologies on these mechanisms.
This means that the Supervisory Body has agreed on practical standards for the development of carbon credit methodologies under the new UN mechanism, establishing much-needed direction for the operation of the mechanism, eagerly awaited by stakeholders in voluntary and regulated markets.
These guidelines will now be analyzed by the national negotiators gathered at COP28 in Dubai from November 30 to December 12, 2023, that is, for approval and adoption by the Parties to the Paris Agreement (CMA).
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