The Article 6 Opportunity for Canada: Blueprint to International Carbon Market Cooperation

Steps toward bilateral international Article 6 cooperation will be necessary to support Canada’s ambitious near-term and longer-term net zero climate ambition. In light of broad global and sector access and representation, taking proactive, concerted steps will solidify – if not enhance – Canada’s role as a global carbon pricing champion while enabling enhanced economic trade opportunities.

Building off of IETA’s Article 6 Discussion Paper titled “How Governments Can Implement NDCs Cooperatively and Encourage Private Sector Investment” this paper outlines the benefits of Article 6 international engagements with specific considerations for Canada, underscoring the urgency to move forward – ideally prior to COP28 and before 2024 – with concrete signals and actions on international Article 6-aligned market cooperation. The paper additionally provides initial “Ingredients For Success” representing several practical near-term opportunities to best position Canada’s participation in Article 6.