Share of proceeds for adaptation and avoiding double use of outside NDC A6.4ERs

Response to the call for submissions on the above-mentioned topics by the SBSTA chair

Summary

Financing for Adaptation/Share of Proceeds:

• A share of proceeds for adaptation should be levied on both 6.2 and 6.4 transactions

• The share of proceeds for adaptation should be a monetary (rather than in-kind) contribution valued as a share of the unit price, combined with a floor value.

Avoiding double use of emission reductions generated outside Nationally Determined Contributions (NDC) under article 6.4 of the Paris Agreement (A6.4ERs)

• All Internationally Traded Mitigation Outcomes (ITMOs) and A6.4ERs should be subject to corresponding adjustments. This includes those issued by projects/activities from sectors/gases not covered by the host Party’s NDC, should such issuance be authorized.