Market-based cooperation mechanisms under Article 6 of the Paris Agreement are a significant tool for countries to realize and raise ambition of their Nationally Determined Contributions (NDCs). More than 60 countries have indicated their interest in using market-based mechanism in their NDCs. However, realizing the full potential of Article 6 requires preparedness and capacity building among participating countries. Article 6 readiness encompasses a spectrum of requirements, including policy frameworks, institutional structures, and stakeholder engagement, all of which are essential for effective participation in international carbon markets.

Decision-makers without a technical background in carbon markets face challenges to navigate the landscape of Article 6 readiness and support initiatives, as a diverse range of support mechanisms is available, and each is tailored to specific contexts and cooperation objectives. This may hinder their ability to engage effectively with the mechanisms. During this event, the NDC Partnership and Perspectives Climate Research presented a framework for Article 6 readiness and a new online toolkit that can guide decisions on areas of Article 6 readiness for countries to prioritize and how to address them. By clarifying key requirements, fostering terminology convergence, and outlining pathways for achieving readiness, this framework and toolkit will empower policymakers to navigate the complexities of Article 6 implementation more effectively.

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