Carbon crediting for policies, not projects?
Let's explore.
In their spring 2024 edition,
@CarbnMechnisms dig deeper into policy crediting under
#Article6 - issuing
#EmissionReductions or
#CarbonRemovals in a new way that goes beyond projects and programmes.
It turns out there is a lot more history behind this concept than I was aware of.
There are also concrete examples of policy crediting already. The World Bank project on policy crediting in Uzbekistan seems to be up and running. The GGGI has looked at piloting Article 6 policy crediting in Indonesia, Morocco, Senegal and Vietnam.
The main challenge that stands out to me is meeting the additionality criteria.
As the Carbon Mechanism Review piece recommends, only policies that contribute to the conditional part of the
#NDC should be eligible for crediting.
With a general aspiration of moving away from conditional NDCs (or am I wrong?), wouldn't this concept provide another instrument that might instead lead to an undesired increase the conditional part of NDCs in some countries?
Read the whole piece on policy crediting here, starting on page 38:
carbon-mechanisms.de/en/publ…