Carbon Credit Art. 6.4. Supervisory Body Makes Progress

The Supervisory Body that oversees the mechanism established under Article 6.4 of the Paris Agreement (the successor to the Clean Development Mechanism/CDM) concluded its sixth meeting on 13 July 2023. It is reported to have made substantial progress on the essential standards and procedures that will allow the mechanism to commence operations next year. Key outcomes from this meeting include the finalisation of standard and procedure associated with the transition of eligible activities registered under the CDM to the Article 6.4 mechanism. The Supervisory Body started accepting requests to transition CDM projects to Article 6.4 on 30 June and will be accepting such requests until the end of this year. The Supervisory Body also progressed in developing the Article 6.4 mechanism activity cycle procedures for projects. It also adopted procedures related to baseline and monitoring methodologies, methodological tools and standardized baselines.

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