One point of progress at COP26 was measures adopted in moving Article 6.2 and 6.4 implementation forward. While there is still work to be done, it is clear that no transaction fee will be assessed for bilateral and multilateral transfers between countries (a victory for first world nations) and meaningful steps were taken to create a centralized hub to replace the Clean Development Mechanism.
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Paris Agreement Article 6 Rules
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In approving the Glasgow Pact, world leaders formally approved rules for implementing Article 6 (specifically Sections 6.2 and 6.4) of the Paris Agreement.
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