SEOUL, Republic of Korea; November 2021 – On November 3rd, 2021, a cooperation agreement to expand the Mobilizing Article 6 Trading Structures (MATS) Program between Global Green Growth Institute (GGGI) and the Swedish Energy Agency (SEA) was signed. The agreement will see the program expand to two more countries, bringing the total number of host countries supported by the program to five. Following the initial signing of the agreement in December 2019 in Madrid, the MATS Program has aimed at unlocking carbon finance under Article 6 of the Paris Agreement by structuring mitigation activities and supporting countries to establish Article 6 compliant governance frameworks. The program has demonstrated that, as the process of defining rules under Article 6 progresses, countries can take deliberative steps toward international cooperation by developing mitigation activities and proactively strengthening institutional frameworks needed for sustainable carbon transactions under Article 6.
“The expansion signed between Global Green Growth Institute and the SEA demonstrates the progress that the MATS program has made so far in developing transactable project activities. The expansion of the MATS program strengthens the partnership between GGGI and the SEA aimed at reducing global emissions in line with the Paris Agreement. It further builds on milestones from the first signing of the agreement to illustrate that potential host countries need support to establish the capabilities required to sustainably transact under Article 6. The program has seen strong progress in the development of key projects in host countries so far, and GGGI alongside the SEA are delighted to have the opportunity to expand the program to two new countries”, said Fenella Aouane, Deputy Director and Head of Carbon Pricing Global Practice at GGGI.
“I am very pleased to see the progress made in the host countries under the current partnership with GGGI. The expanded cooperation with GGGI will reinforce of our joint commitment to support the global efforts in reducing greenhouse gas emissions to meet the long-term goals of the Paris Agreement”, said Robert Andrén, Director General of the Swedish Energy Agency.
The SEA supports the Swedish Government and society as well as external actors with facts, knowledge, and analysis of supply and use of energy in Sweden. The SEA has long been the home of Sweden’s CDM and JI program; and is now actively participating in international climate collaborations under the Paris Agreement. The SEA also provides funding for research on new and renewable energy technologies, smart grids, as well as vehicles and transport fuels. Furthermore, the SEA supports business development that promotes commercialization of energy related innovations and ensures that promising cleantech solutions can be exported. Official energy statistics, and the management of instruments such as the Electricity Certificate System and the EU Emission Trading System, are also part of SEA’s responsibility.
Based in Seoul, GGGI is a treaty-based international, inter-governmental organization that supports developing country governments transition to a model of economic growth that is environmentally sustainable and socially inclusive. GGGI delivers programs for 40 Members and partners – in Africa, Asia, the Caribbean, Europe, Latin America, the Middle East and the Pacific – with technical support, capacity building, policy planning and implementation, and by helping to build a pipeline of bankable green investment projects. To learn more about GGGI, see https://www.gggi.org and follow us on Facebook, Twitter, YouTube, and Instagram.