Operationalizing Article 6 Mechanisms under the Paris Agreement

The Paris Agreement's Article 6 provides the framework for global carbon markets, enabling countries to
cooperate to achieve their Nationally Determined Contributions (NDCs) while laying the foundation for netzero
emissions in the future. While developing and least-developed countries are expected to make their best
efforts to meet their NDC targets, the journey beyond NDCs, toward net-zero emissions, will be significantly
assisted by Article 6 mechanisms through which developed countries will meet their NDCs or increased
ambition.

The slow operationalization of Article 6 threatens to derail the progress made under the Paris
Agreement. Delays in setting up market mechanisms and finalizing bilateral agreements are
preventing developing countries from accessing the finance and technology they need to build a lowcarbon
future. For India, immediate action is required to secure the $100 billion in investments needed
for its 14 eligible Article 6 measures, which are critical to achieving its net-zero and energy
independence goals.

The Government of India must push for the rapid operationalization of Article 6 at COP29 and beyond,
advocating for the use of ITMOs as a tool for both developed and developing nations to increase their
climate ambition. Only through coordinated global action can the full potential of Article 6 be realized,
restoring trust in the carbon market and driving forward the global transition to net-zero emissions.