FAO and Platform for Climate Action boost dialogue to inform on carbon markets
The objective of the event was to learn about the contribution of these markets to decarbonization and climate resilience in agriculture.
September 5, 2024, Santiago, Chile. - More than 250 participants attended the virtual meeting organized by the Platform of Latin America and the Caribbean for Climate Action on Agriculture (PLACA): National Policies and Strategies for Participation in Carbon Markets - challenges for the agricultural sector in a context of climate change, held on September 5.
The event, which brought together experts from international organizations, government representatives and key stakeholders, provided an opportunity to learn how these markets can contribute to decarbonization and climate resilience in agriculture, and to analyze some of the mechanisms and policies needed to facilitate the effective participation of the countries of the region.
PLACA has the Food and Agriculture Organization of the United Nations (FAO) as its secretariat.
"We talked about the opportunities and challenges presented by Article 6 of the Paris Agreement, which is closely related to the concept of carbon markets, as it establishes the mechanisms that allow countries and other parties to trade emission reductions, thus facilitating the creation and operation of such markets" said Maria Mercedes Proaño, Climate Finance Officer of the Food and Agriculture Organization of the United Nations (FAO).
One of the points addressed was the current status of carbon markets in Latin America and the Caribbean, both mandatory and voluntary.
At the meeting, several countries exchanged experiences and advances in carbon pricing instruments. For example, Argentina detailed its National Strategy for the Use of Carbon Markets; Paraguay described the progress made towards carbon markets and Article 6, and Colombia described its current regulatory framework for carbon markets. Through approaches adapted to their national realities.
In addition, an exchange was facilitated on the public policies and regulatory strategies necessary for the implementation of emissions trading systems, with a particular focus on the implementation of an Emissions Training System in the region.
Another point addressed was the development of strategies and tools for countries to effectively use carbon markets to achieve their Nationally Determined Contributions (NDCs).
"This workshop highlighted the need for governments in the region to move forward in creating robust national regulatory frameworks to ensure environmental integrity and safeguards if they decide to enter carbon markets. Proper implementation of these frameworks is critical for countries to meet their Nationally Determined Contributions, aligning their mitigation and adaptation efforts with the commitments made under the Paris Agreement," detailed Proaño.
With these spaces, PLACA reaffirms its commitment to continue promoting constructive dialogues in collaboration with the Secretariats and Ministries of Agriculture and Environment of the region, to share experiences and build collective strategies to strengthen climate action at the regional level.
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