New PACM Position Paper: Ownership of A6.4ERs in the Paris Agreement Crediting Mechanism Registry

As the global community continues to address the urgent challenges posed by climate change, the establishment of effective mechanisms for carbon crediting and trading is increasingly critical.

This paper sets out the issues relating to the potential ownership of the A6.4ERs that will be held in the Paris Agreement Crediting Mechanism (PACM) Registry (the Mechanism Registry). The preliminary elements of the Mechanism Registry have been determined by the CMA, the COP 29 Secretariat and the Supervisory Body for PACM (the SBM), with further elements and requirements of the Mechanism Registry to be finalized by the SBM, with the assistance of the Secretariat and other stakeholders.

In summary, we understand that the Mechanism Registry will be required to:

• Effect the issuance, forwarding, first transfer, transfer, cancellation, voluntary cancellation, communication with the International Registry, and transparency for Paris Agreement compliance purposes (each, as applicable) for all A6.4ERs, including unauthorized A6.4ERs
• Contain accounts for both member countries, and other authorized entities
• Be developed and operationalised to operate in accordance with cyber protections and other best practice standards for credit registries
• Be administered by the Secretariat, who will maintain and operate the Mechanism

Read the full paper.