South Africa is crafting its approach to the Paris Agreement’s Article 6, allowing countries to trade carbon credits to meet climate goals. (The Paris Agreement is a landmark international treaty adopted in 2015 under the UN Framework Convention on Climate Change (UNFCCC), aimed at limiting global warming to well below 2°C above pre-industrial levels, with efforts to cap it at 1.5°C, through nationally determined contributions (NDCs) and enhanced global cooperation on climate action.) This includes measures to regulate emissions, support sustainable development, and transition to a low-carbon economy.
This Bill introduces a comprehensive system to facilitate the country's engagement in international carbon markets and climate action collaboration under the Paris Agreement. Developed in alignment with South Africa's Nationally Determined Contributions (NDCs), the framework outlines mechanisms for implementing market and non-market approaches under Articles 6.2, 6.4, and 6.8 of the Agreement. It establishes governance structures, including a Designated Focal Point (DFP), and technical infrastructure such as a registry for tracking Internationally Transferred Mitigation Outcomes (ITMOs). The framework prioritizes sustainable development, environmental integrity, and ambitious climate mitigation while ensuring compliance with South Africa's domestic laws, including the Carbon Tax Act and the Climate Change Act.
While government plays a crucial role in meeting Internationally Transferred Mitigation Outcomes such as article 6 of the Paris Agreement, the overlapping responsibilities between the Designated Focal Point (DFP) and other bodies like the Department of Mineral Resources and Energy (DMRE) could lead to inefficiencies, and an increase in regulation with regards to Carbon Taxation and similar pieces of legislation that favours environment over enterprise might keep small companies out of the market.
Your voice matters. Have your say on the future of South Africa’s climate strategy and the role of international cooperation.
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