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Article 6 of the Paris Agreement provides the framework for a new generation of carbon markets in a context where all countries are supposed to formulate and implement ambitious Nationally Determined Contributions towards a temperature target and ratchet their contribution on a regular basis. With the final rules for Article 6 being an issue of ongoing negotiation, virtual pilots can help contribute to the discussion regarding rulemaking for Article 6 and inform new ways to cooperate. NewClimate Institute has identified the construction of Net-Zero Energy Buildings in Colombia as a promising...

In this paper we explore three different options for a market-based measure to address the climate impact of international shipping: an offsetting scheme, a maritime emissions trading scheme, and a climate levy. We propose four criteria to evaluate the choice of a market-based measure in the sector, apply these criteria to the three options, and make recommendations as an input into discussions on carbon pricing for the International Maritime Organization. We conclude that a climate levy would be the most appropriate measure to help decarbonize the sector in keeping with the goals outlined in...