Removal activities under the Paris Agreement Article 6.4 mechanism
As an observer to the United Nations Framework Convention on Climate Change ICLRC submitted its input to the call by the Article 6.4 mechanism Supervisory Body regarding reversal risk tools for activities involving removals and the use of insurance schemes.
The submission addresses the problem of reversal tools regarding risks of the removed greenhouse gases being reintroduced into the atmosphere or failure to achieve sequestration/removal goals. Such risks occur, for example, due to forest fires on the territory of a forest and climate project or when emissions due to side effects of project activities exceed the achieved absorption.
The Center's experts consider it necessary for the Article 6.4 mechanism implementation documents to provide project participants with a choice regarding risk reversal tools. The submission focuses on the advantages of insurance tools that allow to fully implement a risk-based approach and fine-tune the risk protection mechanism to their real characteristics in specific conditions.
The submission addresses the problem of reversal tools regarding risks of the removed greenhouse gases being reintroduced into the atmosphere or failure to achieve sequestration/removal goals. Such risks occur, for example, due to forest fires on the territory of a forest and climate project or when emissions due to side effects of project activities exceed the achieved absorption.
The Center's experts consider it necessary for the Article 6.4 mechanism implementation documents to provide project participants with a choice regarding risk reversal tools. The submission focuses on the advantages of insurance tools that allow to fully implement a risk-based approach and fine-tune the risk protection mechanism to their real characteristics in specific conditions.