Headquartered in Seoul, the Global Green Growth Institute (GGGI) is an intergovernmental organization founded to support and promote a model of economic growth known as “green growth”, which targets key aspects of economic performance such as poverty reduction, job creation, social inclusion, and environmental sustainability. GGGI works with countries around the world, building their capacity and working collaboratively on green growth policies that can impact the lives of millions.
Since 2021, GGGI has been implementing the Mobilizing Article 6 Trading Structures (MATS) program which aims to scale up international carbon trading, in compliance with the rules of Article 6 of the Paris Agreement. The MATS program intends to facilitate a real, first of its kind Article 6 carbon transaction in Cambodia. To enable this, the MATS program is supporting the Royal Government of Cambodia to establish the institutional frameworks needed to manage Article 6 Authorizations, transfer emission reductions internationally, and report on the outcomes of cooperative approaches to the United Nations Framework Convention on Climate Change (UNFCCC). These institutional frameworks will be tested through the evaluation and authorization of an Article 6-ready mitigation activity by the Royal Government of Cambodia.
OBJECTIVES OF THE Expression of Interest
GGGI is looking for suitable GHG mitigation activities in Cambodia that require support in engaging with the government and aligning their mitigation activities with the Article 6 Authorization criteria to be set out by the Royal Government of Cambodia.
Selected activities will receive non-financial support from the MATS Global Program team in Article 6 capacity building through the provision of guidance on:
- Updating mitigation activity design to meet Paris Agreement Article 6.2 guidance
- Updating mitigation activity design to comply with Cambodia’s Article 6 Authorization criteria
- Cambodian governance frameworks for Article 6 authorizations
- Cambodian governance frameworks for transfer requests
This support is envisaged to enable the selected partner/s to engage in carbon trading under Article 6 and to provide higher levels of assurance to international buyers that corresponding adjustments will be applied.
Applicable Criteria for selection
To ensure that the evaluation process is fair and transparent, GGGI Cambodia is publishing an open call for Expressions of Interest, accepting submissions from both public and private sector entities. Mitigation activities should align with one of the following criteria:
- Projects already registered and being issued emission reduction credits under an international crediting mechanism (e.g., Gold Standard, VERRA etc.) and which intend to align with Article 6 requirements and trade under Article 6.2.
- Projects registered with the Clean Development Mechanism that are looking to deregister and transition to an alternative international crediting mechanism for continued issuance of Article 6 aligned credits, and trading under Article 6.2.
- Projects currently looking to submit design documents or pending a decision on Request for Approval or Endorsement from the Royal Government of Cambodia to start implementation in 2023.
Project characteristics required
Submissions should demonstrate, at a minimum, the following:
- Mitigation outcomes are generated in Cambodia
- Mitigation outcomes are generated from 2021 onwards
- Mitigation outcomes are not generated from Forestry or Other Land-Use change (FOLU)
- Annual emission reductions exceed 10K tCO2e per year
- Mitigation activities that address conditional priority activities in Cambodia’s Updated NDC, 2020 will be considered an advantage
- Completed design document for the mitigation activity will be considered an advantage
- Project design is compliant with all legal and regulatory requirements of the Kingdom of Cambodia
- Clear case for financial additionality
- Clear demonstration of robust baseline development
- Robust and transparent project management structure
- Well-structured carbon finance flow and management plan
- Local stakeholder involvement , either through government or private partnership, will be considered an advantage
- An identified buyer of ITMOs generated by the mitigation activity will be considered an advantage
Sustainable Development Goals:
- Clear demonstration of contribution to Cambodia’s sustainable development and environmental goals
Specific to Scenario 3:
- Submissions should clearly demonstrate proof of concept
The deadline for applications is Friday, 10 June 2022, 17:00 Cambodian time. Applications submitted after the deadline will not be considered. Applications must be submitted in English through the online form available at https://bit.ly/3P13tw1.
Selected applicants and project stakeholders must be willing to participate in a due diligence assessment, in accordance with GGGI’s Rules on Private Sector Engagement, to ensure that partnerships meet internationally recognized principles in the areas of human rights, labor, the environment, and anti-corruption.
Shortlisted applications will be contacted for supporting documentation and more information.
Download the Expression of Interest here: Survey_EoI – Article 6.2 GHG Mitigation Activities in Cambodia
For further information please go to Theo Shand, MATS Cambodia Project Manager, at firstname.lastname@example.org