BAKU, November 21, 2024 – The Climate Action Center of Excellence (CACE) and Emsurge, a leading OTC trading platform for carbon and renewable energy certificates, have launched the CACE Article 6 Readiness Tracker. Presented at COP29, this pioneering tool promises to revolutionise the carbon market landscape by offering critical insights into the readiness of developing nations for Article 6 cooperation under the Paris Agreement.
Designed to reduce investment risks and accelerate global climate action, the tracker provides buyers, investors, project developers, and policymakers with a detailed understanding of the risks and opportunities associated with Article 6-compliant carbon credits.
Assessing Readiness Across 136 Countries
The CACE Article 6 Readiness Tracker evaluates the preparedness of 136 developing countries for implementing Article 6 mechanisms. Integrated into the CACE ITMO Auction Platform and the Emsurge Carbon Marketplace, the tracker delivers comprehensive data on carbon market readiness, sectoral mitigation opportunities, and investment conditions.
Dr. Yousef Alhorr, Chairman of GORD, highlighted its transformative potential saying, “The CACE Article 6 Readiness Tracker fills a critical gap in the global effort to operationalise Article 6 mechanisms. By providing transparent, up-to-date data on readiness and regulatory frameworks, we are empowering stakeholders to make informed decisions and unlocking the potential of carbon markets to drive impactful climate action.”
Key Features of the Article 6 Readiness Tracker
The tracker offers a suite of tools and insights, including:
- Country-Level Readiness Scores: Evaluates institutional readiness and progress against Nationally Determined Contributions (NDCs).
- Regulatory Framework Analysis: Reviews the enforceability and scope of Article 6 frameworks in participating countries.
- LoA Risk Assessment: A checklist to ensure Letters of Authorisation (LoAs) are robust and fit for purpose.
- Sector-Specific Insights: Highlights mitigation opportunities across sectors such as energy, agriculture, forestry, and transportation.
- Investment Readiness Indicators: Tracks political stability, rule of law, and other factors critical for climate investment.
Melissa Lindsay, Founder and CEO of Emstream & Emsurge, emphasised the tool’s value and said, “Integrating the CACE Article 6 Readiness Tracker into Emsurge advances transparent, data-driven decision-making in carbon markets. By offering clear insights into regulatory and market landscapes, we aim to facilitate efficient and risk-managed climate investments while accelerating global climate progress.”
Free Access for Designated National Authorities
The tracker is freely available to all Designated National Authorities (DNAs) via Emsurge. It includes additional features like live carbon price data, registry insights, and API integration for deeper market intelligence.
This launch marks a significant step in aligning global carbon markets with the Paris Agreement, equipping stakeholders with the tools needed to navigate the complexities of Article 6 mechanisms and drive impactful, sustainable investments.