Collaboratively Building Capacity for Climate Action
Climate Market Club
The Climate Market Club (or "Club") is a group of national governments and non-sovereign members that agree on common principles and jointly develop modalities for piloting activities under Article 6.2 of the Paris Agreement. The objective of the Club is to serve as a forum for discussion and consensus on how different elements of Article 6.2. of the Paris Agreement can be piloted.
Purpose
Purpose
The objective of the Club is to serve as a forum for discussion and consensus on how different elements of Article 6.2. of the Paris Agreement can be piloted. This is intended to facilitate the development of rules under the Paris Agreement based on practical experience and catalyze early action.
Implementation
Implementation
The Club was established by the World Bank Group (WBG) together with the MDB Working Group on Article 6 after bilateral consultations with various national entities that demonstrated interest in climate markets.
Usage
Usage
The Club meets monthly to discuss key topics related to Article 6.2 and provide inputs to the development of knowledge products to inform piloting. A series of technical Article 6 Approach Papers are discussed at the Club, finalized based on feedback by the Club, and made publicly available.
Current Involvement
Current Involvement
As of January 2023, the Club is comprised by 14 governments and 5 non-sovereign entities. The WBG, in coordination with other MDBs serve as the Secretariat, convening meetings and developing technical and knowledge products at the request of the Club.
The current club members are:
The governments of Bangladesh, Bhutan, Chile, Ghana, Kazakhstan, Japan, Peru, Rwanda, Senegal, Singapore, Sweden, Switzerland, Ukraine, and Namibia.
The following non-sovereign entities: KliK Foundation, Global Green Growth Institute, Temasek, Institute for Global Environmental Strategies, and United Nations Development Programme
Article 6 Approach Papers
Approach papers are an important aspect to the work we do to enable environments and inform development of regulatory frameworks, institutional arrangements and efficient market infrastructure.
Click here to access the Approach Papers developed under the Climate Market Club.
