Key issues for using Article 6 towards the EU 2040 climate target

The event, held both in person and online, explored the implications of the EU 2040 Climate Target, drawing on four key outputs co-funded by the ACHIEVE project.

The event began by examining the scope and level of the adopted EU 2040 Climate Target and its implications for the EU’s greenhouse gas (GHG) emissions pathway. Discussions then focused on the potential role of Internationally Transferred Mitigation Outcomes (ITMOs) in achieving the target, including the volume of ITMOs the EU may purchase, options for determining which ITMOs could count towards the target, and recommendations on how these outcomes could be used effectively.

A key focus was placed on the conditions needed to ensure that the use of international carbon credits contributes meaningfully to climate action. These include ensuring the high quality and environmental integrity of carbon credits; clarifying who will purchase the credits; delivering tangible benefits for cooperating partner countries; establishing robust accounting practices; addressing risks related to non-permanence; clearly differentiating carbon accounting from climate finance; and ensuring timely and effective engagement with Article 6 of the Paris Agreement.

The event provided an opportunity to discuss these issues with stakeholders and highlighted key considerations for the EU as it moves towards implementing its 2040 climate target and determining the role of international mitigation outcomes within its broader climate policy framework.