Carbon Pricing
GGGI’s Carbon Pricing Unit aims to support GGGI’s Member and partner countries to set a price for carbon and access carbon finance. It plays an increasingly important role in delivering GGGI’s strategic outcomes, primarily by unlocking international carbon finance to increase ambition, above and beyond countries’ climate commitments under the Paris Agreement, but also by building knowledge and awareness on the mitigation potential of well-designed carbon pricing policies. It provides key services in carbon pricing policy design, development of regulatory frameworks and institutional capacity, design and structuring of transactions, and thought leadership.
International carbon finance has the potential to become the dominant form of finance for climate action because it involves multiple stakeholders crucial to solving the climate crisis such as the private sector and governments that determine countries’ climate ambitions. Currently, carbon finance is only restricted by supply/demand dynamics associated with mitigation outcomes. Rising to contribute to solving these restrictions and open carbon markets, GGGI’s Carbon Pricing Global Practice is a leading actor in global piloting of international carbon transactions under Article 6 of the Paris Agreement.
Projects
UG56
Thematic Areas
Countries
UG56 Creation of a Climate Finance Unit (CFU) and the COP26 Taskforce at MoFPED
| Start Date | Q2 April 21, 2022 |
|---|---|
| Funding Source | |
| Actual Budget (USD) | 1,950,000 |
| Status | Active |
| Thematic Area |
|
GY05
Thematic Areas
Countries
GY05 Monitoring, Reporting and Management Support for Guyana-Norway Partnership portofolio
| Start Date | Q3 2021 |
|---|---|
| Funding Source | |
| Actual Budget (USD) | 1,168,923 |
| Status | Active |
| Thematic Area |
|
RW31
Thematic Areas
Countries
RW31-Smart and Electric Public Transport Services for Low-Carbon City Development in Rwand
| Start Date | Q3 2021 |
|---|---|
| Funding Source | |
| Actual Budget (USD) | 150,000 |
| Status | Active |
| Thematic Area |
|
RW27
Thematic Areas
Countries
RW27-Supporting the Transition to E-mobility in Rwanda
| Start Date | Q1 2021 |
|---|---|
| Funding Source | |
| Actual Budget (USD) | 47,574 |
| Status | Active |
| Thematic Area |
|
GIS03
Thematic Areas
Countries
GIS03 Article 6 Sectoral Approach and Enabling Environment
| Start Date | Q1 July 1 2019 |
|---|---|
| Funding Source | |
| Actual Budget (USD) | 600,033 |
| Status | Active |
| Thematic Area |
|
News
News • December 17, 2023
Waste to Resources: Improving Municipal Solid Waste and Hazardous Waste Management in Rwanda
17 December 2023, Kigali, Rwanda – The Government of Rwanda through the Ministry of Environment of the Government of Rwanda initiated a Memorandum of Understanding (MoU) with the Ministry of the Environment, Climate and Sustainable Development of the Government of the Grand Duchy of Luxembourg to strengthen cooperation and technology transfer between the two countries. […]
News • December 2, 2023
Norway and Morocco Sign MoU: Launching bilateral cooperation under Article 6 at COP28
Dubai, UAE, December 2, 2023 – Aligned with its work for increasing climate ambitions, the Global Green Growth Institute (GGGI) facilitated the signing of a Memorandum of Understanding (MoU) between the Norwegian Ministry of Climate and Environment (NMCE) and the Moroccan Ministry of Energy Transition and Sustainable Development (MTEDD). The signing ceremony, held at the […]
News • November 24, 2023
MoNRE, DFAT, OECD, and GGGI organize collaborative workshop on preparedness and governance frameworks for international carbon markets under the Paris Agreement
Vang Vieng, Lao PDR, 16 November 2023 – The Department of Climate Change (DCC) of the Ministry of Natural Resources and Environment (MoNRE) and the Global Green Growth Institute (GGGI) convened a workshop on carbon markets governance arrangements. GGGI Lao PDR is supporting DCC through the program for “Open and Sustainable Carbon Markets for Lao […]
News • November 22, 2023
Consultation Workshop Sets Stage to establish GGGI Forest and Sustainable Landscapes Program in Cote d’Ivoire
Abidjan, Côte d’Ivoire, November 13, 2023 – GGGI Cote d’Ivoire Office organized a consultation workshop as part of its initiatives, focusing on developing an analysis report on the current landscape, forest, and agroforestry situation in Cote d’Ivoire. This event, a crucial component of the Abidjan Legacy Program, aimed to combat deforestation by mobilizing 100 million […]
News • November 9, 2023
Senegal and Norway sign MoU on Bilateral Cooperation on Article 6 of the Paris Agreement
Dakar, Senegal, 9 November 2023 – As part of the Global Green Growth Institute’s (GGGI) DAPA program, or “Designing Article 6 Policy Approaches”, a Memorandum of Understanding has been signed between Norway and Senegal, marking a significant step towards bilateral cooperation on Article 6 of the Paris Agreement. This MoU has been signed during the […]
News • November 1, 2023
GGGI Facilitates Indonesia-Norway MOU for Bilateral Cooperation on Paris Agreement Article 6 Implementation
Seoul, South Korea, October 27, 2023 – On the final day of the Global Green Growth Week 2023 held at the Global Green Growth Institute (GGGI) headquarters, the Coordinating Ministry for Economic Affairs of Indonesia and the Ministry of Climate and Environment of Norway made a significant progress towards international climate collaboration by signing a […]
News • June 12, 2023
Lao PDR, Australia, and GGGI Collaborate to Foster Sustainable Carbon Markets
The Government of the Lao PDR, the Government of Australia, and the Global Green Growth Institute (GGGI) have formed a partnership to support carbon market development in the Lao PDR. A signing ceremony was held in Vientiane on Tuesday, 6 June, 2023, to mark the official commencement of the “Program for Open and Sustainable Carbon […]
News • May 10, 2023
GGGI Releases Guideline to Mitigation Outcome Purchase Agreements
Seoul, Republic of Korea, – May 10 2023 – Purchase agreements are a common practice in all types of carbon markets, including voluntary and compliance markets. Some of the elements from Article 6 that might be reflected in the so-called Mitigation Outcome Purchase Agreements (MOPAs) include provisions related to corresponding adjustments (CAs), registries, safeguards, and […]
News • May 1, 2023
Africa’s Green Economy Summit connects global capital with green economy projects from across the continent
February 22-24th 2023, Cape Town, South Africa – the Global Green Growth Institute as a key partner of the Africa Green Economy Summit this year joined participants from across the globe to share their insights, experience and knowledge on green economy initiatives lead by GGGI and partners. With the the event theme for 2023 “Driving […]
News • March 30, 2023
GGGI and partners hold SPAR6C program launch event and facilitate strategic dialogue between Germany and Zambia on Article 6 readiness and cooperation.
Lusaka, Zambia March 28, 2023 – The Global Green Growth Institute and partners have organized two important events in the Republic of Zambia under the German-funded “Supporting Preparedness for Article 6 Cooperation” (SPAR6C): an official launch event and a strategic dialogue on Article 6 implementation. The events strengthened the partnership between the German and Zambian […]
News • March 15, 2023
GGGI Morocco Scales-up capacity building on Carbon Transaction under Article 6 of the Paris Agreement through its three-day intensive training
The global interest and focus during COP26 & COP27 on Article 6 have demonstrated the importance of facilitating climate action and producing inroads for unprecedented international cooperation through market-based mechanisms. Anticipating the importance of carbon markets to climate action, GGGI has piloted and built programs that facilitate the Paris Agreement such as Designing Article 6 […]
News • February 24, 2023
Senegal validated its National Strategy for implementing Article 6 of the Paris Agreement in Senegal.
Senegal validated on February 21, 2023, at Fleur de Lys Hotel, Dakar, the National Strategy for operationalizing the implementation of Article 6 of the Paris Agreement in Senegal. The validation workshop gathered nearly 40 participants from sectoral ministries, the private sector, professional associations, and NGOs. Under the leadership and guidance of the Ministry of Environment, […]
News • January 18, 2023
GGGI Releases Report on Article 6 Carbon Markets
Seoul, Republic of Korea – 17 January 2023 – Article 6 of the Paris Agreement establishes a mechanism for government and private sector to achieve the scale of transformation required for keeping within 1.5 °C climate change goal. Article 6 carbon markets offer the opportunity for countries to engage in cooperative approaches to greenhouse gas […]
News • January 16, 2023
Capacity building workshop on carbon markets under Article 6 of the Paris Agreement
In 2016, Rwanda ratified the Paris Agreement (PA) to combat climate change by limiting the global temperature rise to below 1.5º, as articulated in the 2015 Paris Agreement (PA). Submitted to the UNFCCC (United Nations Framework Convention on Climate Change), the National Greenhouse Gas Inventory reported that the per capita Green House Gases (GHG) emissions […]
News • November 21, 2022
GGGI and German Federal Ministry for Economic Affairs and Climate Action Launch the Community of Practice for Article 6 Implementing Countries
On 9 November 2022, the Global Green Growth Institute (GGGI) and the German Federal Ministry for Economic Affairs and Climate Action (BMWK) launched the Community of Practice for Article 6 Implementing Countries (CoP-ASIC). The CoP-ASIC is one component of “Supporting Preparedness for Article 6 Cooperation” or SPAR6C, a program of the International Climate Initiative (IKI). […]
News • November 3, 2022
ONEP launches projects to reduce greenhouse gas emissions and global warming
Bangkok, Thailand – On 12th October 2022 the Office of Natural Resources and Environmental Policy and Planning (ONEP), the National Designated Authority of the Green Climate Fund (GCF), launched the GCF Readiness and Preparatory Support Programme to help Thailand curb greenhouse gas emissions and global warming. The initiative is a collaborative effort between the Thailand […]
News • September 21, 2022
Blueprint for Cambodia’s strategic Article 6 engagement achieved
Siem Reap, 15-16 September 2022, the Global Green Growth Institute (GGGI) and Department of Climate Change of Ministry of Environment Cambodia led an inter-ministerial workshop attended by the National Sub-Working Group for Greenhouse Gas Inventory. The workshop presented strategic decision options that could be applied in Cambodia to set the parameters for authorizing mitigation activities […]
News • July 26, 2022
Round Up: Third meeting of the Project Steering Committee DAPA ” Design of Policy Approaches under Article 6 of the Paris Agreement”
Round Up: Third meeting of the Project Steering Committee DAPA ” Design of Policy Approaches under Article 6 of the Paris Agreement” Rabat, Morocco May 18, 2022 – The Global Green Growth Institute (GGGI) in close collaboration with the Ministry of Energy Transition and Sustainable Development, organized the third steering committee virtual meeting of […]
News • July 1, 2022
GGGI Completes Consultation Phase for the Design of the Article 6 Carbon Transaction Platform
Seoul, Republic of Korea – On 9 June 2022, the Global Green Growth Institute (GGGI) completed the 3-month consultation phase for its latest initiative to promote the opening of international carbon markets, the Carbon Transaction Platform (CTP). The “Global Event on Article 6 and the Carbon Transaction Platform” was a hybrid online/in-person event hosted at […]
News • June 9, 2022
GGGI facilitates Memorandum of Understanding between Nepal and Sweden for bilateral cooperation under Article 6 of the Paris Agreement
Stockholm, Sweden; 1 June 2022 – On the sidelines of the Stockholm+50 meeting, the Swedish Energy Agency (SEA) and the Government of Nepal, represented by the Secretary of the Ministry of Forests and Environment (MOFE), today signed a Memorandum of Understanding (MOU) to cooperate on the implementation of Article 6 of the Paris Agreement. The […]
Programs
DESIGNING ARTICLE 6 POLICY APPROACHES (DAPA)
Countries: Indonesia, Morocco, Senegal, Viet Nam
Implementation period: July 2019 – June 2024
Program description: The Designing Article 6 Policy Approaches (DAPA) program, supported by the Norwegian Ministry of Climate and Environment (NMCE), aims to pilot the generation of policy approaches under Article 6 of the Paris Agreement. The program supports up to four GGGI Member host countries in identifying and designing one policy approach per country that can generate mitigation outcomes for transaction with Norway under Article 6.2 of the Paris Agreement. Through DAPA, GGGI is also developing a technical toolbox to support host countries in the identification and design of policy approaches.
The DAPA program started in July 2019, and was expanded in 2023 to incorporate new activities that seek to support a smoother negotiation process between buyer and seller countries engaging in policy approach transactions.
Resource Partner: Norwegian Ministry of Climate and Environment (NMCE)
MOBILIZING ARTICLE 6 TRADING STRUCTURES (MATS)
Countries: Cambodia, Nepal + two additional countries
Implementation period: January 2020 – December 2023
Program description: The Mobilizing Article 6 Trading Structures (MATS) program, supported by the Swedish Energy Agency, aims to support host countries to access carbon finance under Article 6 of the Paris Agreement. The intended outcome of the MATS program is the completion of Internationally Transferred Mitigation Outcome (ITMO) transactions between GGGI Member host countries and Sweden.
MATS support to host countries focuses on two key areas:
- Supporting host country governments to put in place the institutional frameworks for Article 6 trading.
- Supporting private/public sector project developers to develop mitigation activities into carbon transactions under Article 6.
Resource Partner: Swedish Energy Agency (SEA)
Program one-pager: link
Press release (December 2019): link
SUPPORTING PREPAREDNESS FOR ARTICLE 6 COOPERATION (SPAR6C)
Countries: Colombia, Pakistan, Thailand, Zambia
Implementation period: June 2022 – August 2027
Program description: The Supporting Preparedness for Article 6 Cooperation (SPAR6C) program, supported by the German Federal Ministry of Economic Affairs and Climate Action (BMWK) through the International Climate Initiative (IKI), supports the governments of Colombia, Pakistan, Thailand, and Zambia to become fully prepared to engage in transactions under Article 6 of the Paris Agreement. SPAR6C is currently the largest and most comprehensive program focused solely on enhancing Article 6 preparedness globally. It is being implemented by a consortium of partners, led by GGGI.
The defining characteristic of SPAR6C is its focus on implementation and practical application of best practices. Accordingly, the program is composed of three interconnected components:
- Country readiness support in four countries – including support for medium and long term emissions planning, Article 6 strategy and governance frameworks, and mitigation activity development.
- A compendium of resources called the ‘Article 6 Toolbox’
- A forum for knowledge generation, dissemination, and application, called the ‘Community of Practice for Article 6 Implementing Countries’
Resource Partner: Federal Ministry for Economic Affairs and Climate Action (BMWK)/International Climate Initiative (IKI)
Consortium partners: UNEP Copenhagen Climate Center, GFA Consulting Group GmbH, Kommunalkredit Public Consulting, and Carbon Limits AS
SPAR6C Project Page: link
Publications and Reports
Summary Report: Designing Governance Structures and Transactional Documentation for Mitigation Outcome Transactions under Article 6 of the Paris Agreement