Enhanced climate action through high integrity
carbon markets
Practicum on the implementation of the Paris
Agreement Article 6

United Nations University (UNU-IAS)
October 1st 2024 – February 4th 2025
Location: Lecture room, 6th floor in the UNU building 1
Time: 18:00-19:40
Lecturer: Dr Akio TakemotoContact Information: atakemoto@unu.edu
Office Hours: by appointment

Course Description
Article 6 of the Paris Agreement is attracting much attention across various stakeholders
including both public and private sector. It is seen as a key vehicle to advance actions under theParis Agreement by enabling Parties to voluntary cooperate each other towards achievement of
their mitigation commitment pursuing higher mitigation ambition and contribution tosustainable development, and ultimately, towards achievement of the global goal of net zero
emissions. Article 6 of the Paris Agreement facilitates Parties to operationalize high integrity
carbon markets, which can be an effective and efficient measure to address climate change. By
operationalizing carbon markets, economic incentives are created for reducing GHG emissions.
Parties set out for the provision of global carbon markets which involve international transfer of
mitigation outcomes accrued through the cooperation within the context of Paris Agreement.
While development of rules, modalities and procedures and detailed guidance of a centralized
carbon crediting mechanism under the UNFCCC is currently ongoing, some Parties alreadystarted engaging in designing, developing and operationalizing their own mechanisms based on
bilateral cooperation. In the meantime, voluntary carbon markets are also evolving with private
sector companies being the major source of demands for credits. At the same time, there arevarious initiatives deployed and/or under consideration to ensure quality of carbon credits fromboth supply and demand sides taking into account of the global action towards net zero
emissions.
1 The course is provided in a hybrid mode where participants can access the classes remotely1Based upon these backdrops, this course provides participants with comprehensive
understanding on core principles and guidance, rules, modalities and procedures associated with
implementing Art. 6 of the Paris Agreement as well as expertise to take a lead in developing andoperationalizing carbon market mechanisms towards achievement of net zero emissions.

Course Objectives and Learning Goals
By the end of the course, the participants should be able to explain the characteristics andtrends, challenges and opportunities of implementing Article 6 of the Paris Agreement for thehigh integrity carbon markets and strategically lead development and operationalization ofmarket mechanisms aligned with Art. 6 of the Paris Agreement towards achievement of net
zero target.
The course is comprised of the four Components as follows:
Component 1: Comprehensive understanding of Art. 6 within the context of UNFCCC• It provides the participants strategic and comprehensive understanding on the roles ofArt. 6 mechanisms under the Paris Agreement (PA) and UNFCCC. For this purpose, itelaborates trajectory of UNFCCC negotiation towards & after adoption of the PA as wellas incentives, challenges and opportunities to utilize carbon market mechanisms (MMs)under the PA. In order to deepen the understanding of MMs, it looks at lessons learned
from implementation of MMs under the Kyoto Protocol (KP) incl. common challenges
and limitations as well as lessons learned, in particular, in use of the Clean Development
Mechanism. Further, it observes differences and commonalities between KP and PA in
operationalizing MMs highlighting specific requirements to be fulfilled by Parties toutilize them under the PA such as authorization, tracking and reporting as well as
corresponding adjustment while contemplating their implications to the strategic use of
MMs.
Component 2: Core elements of implementing the Art. 6 – Authorization, Tracking
and Reporting• It focuses on guidance and procedures on the Art. 6 key elements of authorization,
tracking and reporting under the PA. In order to deepen understanding of participantsin operationalizing the Art. 6 mechanisms within the context of the UNFCCC, it also
provides basic understanding on the associated requirements of enhanced transparency
and GHG inventory under the PA and their linkages to the Art. 6 implementation. It is
composed of theoretical lectures and hands-on trainings by using demonstration tools
for each element of authorization, tracking and reporting. Participants will experience
the entire procedures of these elements through scenarios and role plays among theclass.
Component 3: Policy and regulatory framework of various market mechanisms• It drills down the actual cases of MMs focusing on applicable rules, modalities andprocedures featuring both compliance and voluntary schemes including ongoing rulemaking of Article 6.4 mechanism under the UNFCCC. It includes dialogue with schemeowners to exchange views and observe background of the various mechanisms as well as
perceived opportunities and challenges in operationalizing them. To deepen theunderstanding on the carbon market trends, it also elaborates recent initiatives toensure the quality of carbon credits and the associated green claims such as Core Carbon

2Principle, VCMI Claims Code of Practice and Science Based Targets initiative. In addition,
the linkages and needs of MMs to contribute for sustainable development are discussed.
Component 4 Wrap up – Operationalizing Art. 6 mechanisms with high integrity
towards net zero
• It will wrap up the study of the course and discuss possible contribution of high integrityArt. 6 mechanisms towards achievement of global net zero emission target. It elaborates
perspectives for facilitating early and steady development of Art. 6 mechanisms andidentifies necessary conditions and/or requirements for scaling up of climate action
through utilization of Art. 6 mechanisms.

Requirements and Grading Policy
All students are expected to complete the required readings before each class. The course
requirements also include active class participation and assignments:•••

Class participation and discussion (30%)
Assignment 1: Mid-term short report (Research proposal) (20%)
Assignment 2: Analytical essay (50%)

Class Participation
The course requires students to attend all classes, to arrive on time, to complete the readings andto participate actively in class discussions. This means speaking during each and every class. At
the discretion of the instructor, frequent late arrivals or absences may result in a lower grade.
Please note that the first session is of particular importance and cannot be missed. Students arealso strongly encouraged to regularly follow the news to keep up with international discourseand developments on climate change and in particular on the development of Article 6
mechanisms of the Paris Agreement, as these will be reflected in the class discussions. Relevant
news sites and reporting archives will be shared by the instructor during the class.
Assignment 1: Mid-term short report (Research proposal)
Participants are requested to write a research proposal providing a title, brief introduction of thecontext, rational and objectives, methods and implication of the research, which will serve as thebasis for the term-end report to be submitted at the end of the course. The proposal shouldelaborate possible roles of markets in a selected country considering strategic approaches toenhance climate action by utilizing them aligned with Article 6 of the Paris Agreement.
Format:• Arial 12, 1.5 space, justified alignment, double side, references (in-text citation andbibliography can include both reports and academic articles)• Harvard referencing style• Maximum of 800 words (Excluding references and other relevant information which
may be attached as an annex to the report)
Submission deadline of the Assignment 1: Tuesday, January 7th, 2025
Assignment 2: Analytical essay

3Participants are requested to write a report building on the research proposal submitted for theassignment 1. They should provide an overview of strategic guidance, plan and approaches toutilize markets for enhancing climate action in a selected country touching upon possible pros
and cons for utilizing such measures and also provide scenario for minimizing negative impacts
and maximizing effectiveness and benefits aligned with the rules and procedures under the
Article 6 of the Paris Agreement towards contributing for global action to achieve net zero
emissions.
Format:• Arial 12, 1.5 space, justified alignment, double side, cover page, references (in-text
citation and bibliography can include both reports and academic articles)• Harvard referencing style• Maximum of 3,500 words (Excluding references and other relevant information which
may be attached as an annex to the essay)
Submission deadline of the Assignment 3: Tuesday, February 11tht, 2025

Course Outline

LectureNo.
1Component 1: Comprehensive understanding ofArt. 6 within the context of UNFCCC

2

Comp
onent

Title

Date

Art. 6 within the context of UNFCCC –Part 1

Tuesday, October 1st,
2024 ~ 18:00-19:40

Instructors/Invited
Speakers if any
Dr. Akio Takemoto
and TERI SAS

Art. 6 within the context of UNFCCC –Part 2

Tuesday, October 8th,2024 ~ 18:00-19:40

Dr. Akio Takemoto
and TERI SAS

4

Rules and procedures for
operationalizing Art. 6 mechanisms –Authorization part 1

Tuesday, October 15th,
2024 ~ 18:00-19:40- Dr. Akio
Takemoto and TERISAS
-Guest lecturer
(ADB)

4

Rules and procedures for
operationalizing Art. 6 mechanisms –Authorization part 2

Tuesday, October
22nd, 2024 ~ 18:0019:40- Dr. Akio
Takemoto and TERISAS
-Guest lecturer(ADB)

Tuesday, October 29th,
2024 ~ 18:00-19:40- Dr. Akio
Takemoto and TERISAS- Mr. Harikumar
Gadde (WorldBank)

Tuesday, November
5th, 2024 ~ 18:0019:40- Dr. Akio
Takemoto and TERISAS- Mr. Harikumar
Gadde (WorldBank)

Tuesday, November
26th, 2024 ~ 18:0019:40- Dr. Akio
Takemoto and TERISAS
-Guest lecturer(UNFCCC)

Tuesday, December
3rd, 2024 ~ 18:0019:40- Dr. Akio
Takemoto and TERISAS
-Guest lecturer(UNFCCC)

Tuesday, December
10th, 2024 ~ 18:0019:40

Dr. Akio Takemoto,
Dr. Atsushi Satoand TERI SAS

5

6

7

8

9

Component 2: Core elements of implementing the Art. 6 – Authorization, Tracking
and Reporting3

Rules and procedures for
operationalizing Art. 6 mechanisms– Tracking part 1

Rules and procedures for
operationalizing Art. 6 mechanisms– Tracking part 2

Rules and procedures for
operationalizing Art. 6 mechanisms– Reporting part 1

Rules and procedures for
operationalizing Art. 6 mechanisms– Reporting part 2
Linkages between enhanced
transparency framework, GHG
MRV and Art. 6

5

10

12

13

14

Component 3: Policy and regulatory framework of various market mechanisms

11

Tuesday, December
17th, 2024 ~ 18:0019:40- Dr. Akio
Takemoto and TERISAS
-Guest lecturer(IGES and/or
Government ofJapan/Federal
Office for theEnvironment of
Switzerland)

Tuesday, January 7th,2025 ~ 18:00-19:40- Dr. Akio
Takemoto and TERISAS
- Guest lecturer(IGES and/or Gold
Standard)- Dr. Akio
Takemoto and TERISAS
- Guest lecturer(IGES and/or
Integrity Council
for the Voluntary
Carbon Market)- Dr. Akio
Takemoto and TERISAS
- Guest lecturer(IGES and/or
Voluntary Carbon
Market Initiative
Secretariat)- Dr. Akio
Takemoto and TERISAS
-Guest lecturer(IGES)

Compliance market mechanisms Japan and Switzerland

Voluntary market mechanisms –VCS and Gold standards
Assignment 1: Short report due

Tuesday, January 14th,
2025 ~ 18:00-19:40

Integrity and quality of carbon
credits - Part 1 Supply side

Tuesday, January 21st,
2025 ~ 18:00-19:40

Integrity and quality of carbon
credits - Part 2 Demand side

Tuesday, January 28th,
2025 ~ 18:00-19:40

Linkage between the carbon
markets to sustainable
development

6Component 4: Wrap up - Operationalizing Art. 6
mechanisms with high integrity towards net zero

15

Tuesday, February 4th2025 ~ 18:00-19:40

Dr. Akio Takemoto
and TERI SAS

Roles of carbon financing andmarkets towards net zero

Course Readings
Participants are expected to actively contribute to class discussions based on the readingmaterial provided. The lecturer reserves the right to update the reading list throughout thecourse and will alert participants to the changes in class. If any required readings from academic
journals or e-books are added to the course, these can be accessed through the public work
stations at the UNU library, using your UNU student login and password. Additional readings
from web based content will also be included.
Compo
nent
No.
1

Recommended Readings

Convention, Protocol and Agreement:• UNITED NATIONS FRAMEWORK CONVENTION ON CLIMATE CHANGE
https://unfccc.int/resource/docs/convkp/conveng.pdf• Kyoto Protocol to the United Nations Framework Convention on Climate Change
https://unfccc.int/documents/2409• The Paris Agreement
https://unfccc.int/sites/default/files/english_paris_agreement.pdf• Website• What is the United Nations Framework Convention on Climate Change?
https://unfccc.int/process-and-meetings/what-is-the-united-nations-frameworkconvention-on-climate-change• What is the Kyoto Protocol? https://unfccc.int/kyoto_protocol• What is the Paris Agreement? https://unfccc.int/process-and-meetings/the-parisagreement• UNFCCC – History of the Conventions https://unfccc.int/process/theconvention/history-of-the-convention#Climate-Change-in-context

7

2

Readings:• Lo Re, L., J. Ellis and S. Greiner (2022), "The birth of an ITMO: Authorisation under
Article 6 of the Paris Agreement", OECD/IEA Climate Change Expert Group Papers,
No. 2022/03, OECD Publishing, Paris, https://doi.org/10.1787/3d175652-en.

• Falduto, C., J. Ellis and K. Simeonova (2021), "Understanding reporting and review
under Articles 6 and 13 of the Paris Agreement", OECD/IEA Climate Change Expert
Group Papers, No. 2021/04, OECD Publishing, Paris,
https://doi.org/10.1787/03d6d0f9-en.
• Asian Development Bank (2020) Decoding Article 6 of the Paris Agreement
VERSION II https://www.adb.org/sites/default/files/publication/664051/article6paris-agreement-v2.pdf• Lo Re, L. and J. Ellis (2021), "Operationalising the Article 6.4 mechanism: Options
and implications of CDM activity transition and new activity registration", OECD/IEA
Climate Change Expert Group Papers, No. 2021/02, OECD Publishing, Paris,
https://doi.org/10.1787/08ce04ee-en.

Manual:• UNFCCC (2022) Reference Manual for the Enhanced Transparency Framework
under the Paris Agreement Understanding the enhanced transparency frameworkand its linkages Version 2
file:///C:/Users/naoki.torii/Downloads/v2_ETFreferencemanual.pdf

Online course:• Operationalizing Article 6.2 of the Paris Agreement: Achieving ambitious climate
action through cooperative approaches
https://www.learningfornature.org/en/courses/operationalizing-article-6-2-of-theparis-agreement-achieving-ambitious-climate-action-through-cooperativeapproaches/• UNFCCC (2023) Article 6.2 Manual for the accounting, reporting and review ofcooperative approaches
https://unfccc.int/sites/default/files/resource/Article_6.2_Reference_Manual.pdf

3Website• All about the NDCs https://www.un.org/en/climatechange/all-about-ndcs• Moving towards implementing an Enhanced Transparency Framework
https://unfccc.int/enhanced-transparency-framework• FAQs of Task Force on National Greenhouse Gas Inventories - IPCC
https://www.ipcc-nggip.iges.or.jp/faq/faq.html
Website:• The Joint Crediting Mechanism (JCM)by the Government of Japan
https://www.jcm.go.jp/• Bilateral climate agreements by the Federal Office for the Environment (FOEN),
Switzerland https://www.bafu.admin.ch/bafu/en/home/topics/climate/infospecialists/climate--international-affairs/staatsvertraege-umsetzungklimauebereinkommen-von-paris-artikel6.html• Voluntary Carbon Markets Integrity Initiative https://vcmintegrity.org/vcmiclaims-code-of-practice/• The Core Carbon Principles https://icvcm.org/core-carbon-principles/

Important Information
Class Conduct & Etiquette
8Participants are expected to arrive on time and not to engage in disruptive behavior during class.
This includes, among other things, private side conversations, the use of cell-phones and otherelectronic devices, or the reading of newspapers. Cell-phones should be switched off and stored in
the bag. We wish to create an atmosphere of open and tolerant discussion in the classroom andrequest participants to recognize every individual’s right to have an opinion. The lecturer andother participants should be treated with dignity and respect, in particular in discussions oncontentious political issues where a diversity of opinion is likely to arise. However, we also
recognize that there are limits to tolerance and the lecturer reserves the right to request
disciplinary action against any student who violates this policy or repeatedly shows disruptive
behavior in class.
Any disruption of the class by cell phones, instant messaging programs or other communication
devices will not be tolerated. The lecturer reserves the right to revoke this permission if a student
is found using a computer for any non-course related activities.
Plagiarism & Academic Misconduct
Please be aware that the consequences of plagiarism are severe and participants found guilty ofacademic misconduct will be punished in accordance with UNU’s academic honesty policies. The
lecturer reserves the right to run all assignments through an anti-plagiarism software provided
by the UNU. If evidence of academic misconduct on the assignments should be found, they will
receive a failing grade. In case of repeated violations of academic conduct, the participants may
receive a failing grade for the entire course and will be reported to the appropriate authorities
for disciplinary action.

Invited Speakers/Lecturers Bio
To be provided before the lecture9