Q. Consider the following statements:
Statement I: Article 6 of the Paris Agreement on climate change is frequently discussed in global discussions on sustainable development and climate change.
Statement II: Article 6 of the Paris Agreement on climate change sets out the principles of carbon markets.
Statement III: Article 6 of the Paris Agreement on climate change intends to promote inter-country non-market strategies to reach their climate targets.
Which one of the following is correct in respect of the above statements?
Exp) Option a is the correct answer.
Statement I is correct: Article 6 of the Paris Agreement is frequently discussed in relation to sustainable development and climate change due to its provisions for international cooperation in the implementation of Nationally Determined Contributions (NDCs). It enables countries to voluntarily cooperate through carbon markets (6.2 and 6.4) and non-market approaches (6.8) to achieve their climate targets, while also promoting sustainable development and environmental integrity.
Statement II is correct: Article 6 of the Paris Agreement on climate change sets out the principles for carbon markets. It provides a framework for international cooperation on emissions reductions, enabling countries to work together through carbon trading and other mechanisms to achieve their climate targets. Article 6 allows countries to transfer emission reductions from one country to another, helping them meet their nationally determined contributions (NDCs).
Statement III is correct: Article 6 of the Paris Agreement facilitates both market-based and non-market-based international cooperation for countries to achieve their climate targets. It’s a key mechanism for countries to collaborate in reducing emissions and meeting their Nationally Determined Contributions (NDCs)
- Article 6.2: Enables countries to use internationally transferred mitigation outcomes (like carbon credits) towards their NDCs, promoting cooperation and sharing of emissions reduction efforts.
- Article 6.4: Establishes a new UNFCCC mechanism for trading high-quality carbon credits, further facilitating international carbon markets.
- Article 6.8: Specifically addresses non-market approaches, including finance, technology transfer, and capacity building to enhance climate action. This allows for cooperation without direct trading of emissions reductions, promoting a broader range of collaboration.
Both statement II and III explains statement I
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