Joint MDB Workshop: Building an enabling environment for operationalizing Article 6

As a joint MDB event, this event will introduce MDBs’ efforts on creating an enabling environment for operationalizing Article 6. Specifically, the World Bank will present the results of the Climate Warehouse second phase simulation and the Climate Market Club established last June in collaboration with the MDB Working group on Article 6, which is a group of national governments that jointly develop modalities for piloting activities under Article 6.2 of the Paris Agreement. The European Bank for Reconstruction and Development will present its work on digitalizing MRV (D-MRV), including associated D-MRV Protocol, and how an advanced automated digitalized MRV system can contribute to enhanced transparency and efficiency in creating mitigation outcomes without compromising the environmental integrity of carbon markets. The African Development Bank will introduce its ITMO (internationally transferred mitigation outcome) project in West Africa and provide an update on the progress of the Pilot Phase of the Adaptation Benefits Mechanism - a results-based mechanism for mobilizing public and private sector finance for adaptation, intended to qualify as one of the various non-market approaches under Article 6.8 of the Paris Agreement. The Asia Development Bank will present its Article 6 Support Facility.