Overview

Description

Not Specified

Recent Developments

The Paris Agreement Crediting Mechanism (PACM) is now operational. PACM is managed by the UNFCCC as a crediting mechanism to support countries to meet their NDCs. Units generated by PACM can also be used for voluntary purposes. There are two channels available for projects to be approved by PACM—a track for older Clean Development Mechanism (CDM, Kyoto era) projects to transition, and a separate process for new projects where standards and methodologies are awaiting approval. Transitioning projects must receive approval from the PACM and the host country. While the window for CDM projects to receive approval from PACM has passed, the deadline for receiving host country approval has been extended to June 30, 2026. Among the projects that have received host party approval, a clean cookstove programmatic (i.e., multi-activity) project from Myanmar has become the first to obtain provisional credit issuance under PACM

Relation to Compliance Carbon Pricing Instruments or other Voluntary Schemes in the country

Not Specified

Eligible Activities