Market-based approaches to take action and to raise ambition in LAC.

 

Climate Week is already here, and this time it will be held in Salvador de Bahía, Brazil (19 – 23 August). LACCW looks a progress in the regional climate action and discuss challenges and opportunities for climate action from a Latin American and Caribbean perspective.

There is an urgent need for the global community to act and to raise ambition on their mitigation ambitions in the spirit of the Paris Agreement on climate change. Paris Agreement Article 6, which allows Parties to cooperate in implementing their NDCs, is to contribute to this objective by establishing a new framework for using international carbon market mechanisms between Parties, to allow for higher ambition and to promote sustainable development and environmental integrity.

In LAC countries, there is growing momentum for using market-based approaches to meet climate targets as countries proceed with plans for implementation of their NDCs under the Paris Agreement. However, it is imperative that LAC countries be proactive, pursue climate actions and create opportunities that support its own NDC aspirations, while bringing much-needed carbon finance that can support sustainable development.

The session will discuss how the Article 6 approaches can be fully operationalized to ensure the transition of the market mechanisms from mere offsets to real and measurable contributions to SDGs that accelerate the implementation of the NDCs by showcasing successful practices of carbon pricing in LAC countries and to explore opportunities to extend the initiative to new jurisdictions by promoting countries efforts towards regional carbon markets.

Our Panelists:
Adriana Gutierrez, Consultant at Ministry of Environment of Colombia
Axel Michaelowa, Perspectives Climate Group
Lisa Lafferty, Climate Trust
Perumal Arumugam, UNFCCC
Tanguy de Bienassis, World Bank
Thiago de Araújo Mendes, Environmental Agency of the Federal District of Brazil (Brasília Ambiental)
Tomasz Chruszczow, High-Level Climate Champion for COP24 at Ministry of the Environment Poland

Moderator:
Alexis Leroy, ALLCOT Group

Tuesday August 20
13:30-14:25
Meeting Room:
ROOM  SDG 9 (SL50-T02)

This event is an opening to the UN 2019 Climate Summit. For more details please click here

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