Expected speakers: 

• Sandra Lindström, Head of International Climate Cooperation, Swedish Energy Agency
• Daniel Benefor, Deputy Director, Ghana Environmental Protection Agency
• Christophe McGlade, Head of the Energy Supply Unit, International Energy Agency
• Stephen Kansuk, Environment and Climate Change Specialist, UNDP
• Peter Dery, Director Environment, Ghana Ministry of Environment, Science, Technology and Innovation 

With the long-awaited adoption of the Article 6-rulebook at the Glasgow Climate Conference (COP26) in 2021, countries are now scaling up carbon market cooperation worldwide. 

It is clear that climate finance alone will not be enough to reach objectives of the Paris Agreement. In this context, carbon markets have an important role to play in mobilizing additional finance to mitigation activities and energy transitions around the world. Projections show that Article 6 financial flows has the potential to reach over 20% of investment in clean energy in 2020-30, and roughly 30% in 2020-2050[1] in Africa. This would allow for increased climate ambition as well as accelerated achievement towards the sustainable development goals. 

A well-functioning carbon trading regime under Article 6 offers an important tool. Maximising the potential of carbon markets requires mindful implementation of the Article 6 rulebook in close cooperation between the countries and companies involved. The use of highest environmental integrity standards, focus on transformative climate activities and strong sustainable development provisions will play a key role for its success.  

The first part of the side-event will share experiences from the early cooperation between Ghana and Sweden. Ghana and Sweden have the ambition to lead the way in the implementation of market-based cooperation under the Paris Agreement and will jointly be pioneering the way. 

The second part of the side-event will gather representatives from governments, organizations and companies that have started implementing Article 6. The discussion will focus on the overall potential of carbon markets, experiences so far and expectations on the role of market-based climate cooperation ahead.