A critical but often overlooked challenge in Article 6 implementation is timing: most carbon funds disburse payments only after verified mitigation outcomes are delivered, while projects need capital long before revenues materialize.  

This paper examines how Mitigation Outcome Purchase Agreements (MOPAs) – contractual commitments to purchase future carbon outcomes – could be structured to unlock upfront financing from commercial lenders, bridging that gap. Drawing on primary research with banks and financial institutions in Nepal, where GGGI’s Article 6 Climate Cooperation Trust Fund (ACCTIF) is building its portfolio, the study identifies the regulatory, contractual, and market conditions under which MOPA-backed lending becomes viable. The findings offer practical guidance for policymakers, project developers, and financiers working to scale Article 6 beyond publicly funded transactions – with lessons applicable across frontier carbon markets.