GGGI and SEA to develop four mitigation activities generating ITMOs in energy, waste, and manufacturing

By PRESS RELEASE
SEOUL, Republic of Korea, Oct 23 2020 (IPS-Partners)

Following the cooperation agreement signed in December last year
for the
Mobilizing Article 6 Trading Structure (MATS) Program
, the
Swedish Energy Agency (SEA) and the Global Green Growth Institute
(GGGI) have agreed to further develop four mitigation activities
with the goal of completing transactions of internationally
transferred mitigation outcomes (ITMOs). 75% of these activities
will come from GGGI’s pipeline of bankable projects across its
Members and partners. Out of the four proposed activities, two will
target the energy sector in Ethiopia, one will be focused on the
waste sector in Nepal, and one will focus on the manufacturing
sector in Cambodia.

“GGGI is excited about this important program milestone. The
MATS program will support our Member and partner countries to
access international carbon finance, build regulatory frameworks
and institutional capacity to increase their ambition and go beyond
the Nationally Determined Contributions (NDCs),” explained Ms.
Fenella Aouane, GGGI’s Head of Carbon Pricing Unit.

“Successful implementation of the cooperative approaches under
Article 6 is a new area of focus that allows for scalable and
transformative changes needed to meet the global ambitions of the
Paris Agreement.”

“We are thrilled to have been able to green-light development
of the first batch of Article 6 Pilot activities under the MATS
program, less than one year since the program was first conceived.
We hope that these pilot activities will deliver concrete results
for the host countries in achieving their NDC targets, while also
providing lessons for various stakeholders as the Article 6
rulemaking process continues,” said Mr. Christopher Zink, Senior
Advisor at the Swedish Energy Agency. “Environmental integrity is
the key focus area for Sweden when it comes to testing Article 6,
including scalability, additionality, conservative baselines,
attribution and the avoidance of double counting.”

Through joint collaboration, GGGI and SEA will help countries to
gain access to international finance, enabling them to unlock
projects, which will not only contribute to reducing additional
carbon emissions but will also enhance ambition in NDCs.
Furthermore, both organizations will play a key role in supporting
governments in establishing frameworks, that will create the
enabling environment for international trading of mitigation
outcomes under Article 6 of the Paris Agreement.

The SEA-GGGI MATS Program is a pilot project aimed at catalyzing
international trading of mitigation outcomes to support increasing
climate ambitions. This month’s recent agreement – as part of
the project progression, selecting specific mitigation activities,
will aim to enable host countries to gain access to international
carbon finance, unlocking projects which will generate additional
emissions reductions, ultimately enabling greater ambition in NDCs.
This work will add onto the $1.6 billion USD of green investment
already mobilized by GGGI since 2015. Importantly, the program will
also help to establish the enabling environments with the host
countries to ensure sustainable transformational change by
supporting them to put in place the governance frameworks required
to engage in international trading, including systems and
procedures to help avoid double counting and ensure environmental
integrity.

About SEA
SEA supports the Swedish Government and Society as well as external
actors with facts, knowledge, and analysis of supply and use of
energy in Sweden. SEA provides funding for research on new and
renewable energy technologies, smart grids, as well as vehicles and
transport fuels. SEA also supports business development that
promotes commercialisation of energy related innovations and
ensures that promising cleantech solutions can be exported.
Official energy statistics, and the management of instruments such
as the Electricity Certificate System and the EU Emission Trading
System, are part of SEA’s responsibility.

Furthermore, SEA has long been the home of Sweden’s CDM and JI
program; and is now actively participating in international climate
collaborations under the Paris Agreement.

About GGGI
GGGI was established as an international intergovernmental
organization in 2012 at the Rio+20 United Nations Conference on
Sustainable Development. Its vision is “a low-carbon, resilient
world of strong, inclusive, and sustainable growth” and its
mission “to support Members in the transformation of their
economies into a green growth economic model”. GGGI does this
through technical assistance to: reduce greenhouse gas emissions in
line with the Paris Agreement; create green jobs; increase access
to sustainable services (such as clean affordable energy,
sustainable waste management); improve air quality; sustain natural
capital for adequate supply of ecosystem services; and enhance
adaptation to climate change.

To learn more about GGGI, see https://www.gggi.org and follow us on
Facebook, Twitter,
YouTube, and
Instagram.

The post
GGGI and SEA to develop four mitigation activities generating ITMOs
in energy, waste, and manufacturing
appeared first on Inter Press Service.

Source: FS – All – Ecology – News
GGGI and SEA to develop four mitigation activities
generating ITMOs in energy, waste, and manufacturing