Building capacity of policy makers to mobilize investment for resilient and low emission agrifoods in India under Article 6 of the UNFCCC Paris Agreement & Voluntary Carbon Markets
| Project's full title | Building capacity of policy makers to mobilize investment for resilient and low emission agrifoods in India under Article 6 of the UNFCCC Paris Agreement & Voluntary Carbon Markets |
|---|---|
| Country | India |
| Start date | 01/09/2022 |
| End date | 30/09/2024 |
| Status | Completed |
| Project Code | TCP/IND/3901 |
| Objective / Goal |
Objectives: To address information barriers associated with harnessing public and private investment to scale up priority Nationally Determined Contributions (NDC) actions and longer-term action towards resilient and low-emission agrifood systems. Description: The project taps into the opportunities to scale up investment in near- and long-term priorities for resilient and low-emission agrifood systems under Article 6 Sustainable Market Mechanism (SMM) and related processes including the UNFCCC Long-term Strategy (LTS) process. Article 6 of the Paris Agreement aims to promote integrated, holistic and balanced approaches that will assist governments in implementing their NDCs through voluntary international cooperation. The Article 6 Sustainable Market Mechanism (SMM) for carbon trading will replace the Clean Development Mechanism (CDM) and essentially aims to raise climate ambition, by allowing Parties to work towards their NDCs by cooperating – or trading emission reductions in the form of carbon units – in both market and non-market approaches. This technical cooperation project contributes to India’s capacity to take advantage of the opportunities emerging from international market transactions specifically from the new Article 6.2 and 6.4 rules respectively referring to set out guidelines covering internationally transferred mitigation outcomes (ITMOs) between two governments that are Parties to the Paris Agreement (Art. 6.2) and establishes a new, unnamed multilateral mechanism that resembles the function of the former Clean Development Mechanism (Art. 6.4). FAO Regular Programme Budget Expected Outputs:
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