UNCCD approves first carbon credits under new Paris Agreement carbon market
In Germany, the UN Convention to Combat Climate Change has approved the first credits to be issued under the UN carbon market established by the Paris Agreement. The approved activity is a clean‑cooking project in Myanmar, which distributes efficient cookstoves that reduce harmful household air pollution and lessen pressure on local forests.
The project is coordinated with authorized participants from the Republic of Korea. Credits authorized for use in Korea can be transferred to Korean entities for use in the Korean Emissions Trading System, contributing to the Republic of Korea’s Nationally Determined Contribution (NDC). The remainder will be used by Myanmar toward its own NDC.
The project previously received a provisional issuance under the Clean Development Mechanism (CDM). Under the Paris Agreement Crediting Mechanism, updated values and more conservative calculations are applied, recognizing earlier investments while ensuring credited reductions reflect the latest available science and information.
These adjustments result in credited reductions that are roughly 40 percent lower than under the CDM, ensuring the issued credits more closely reflect real‑world impact in the current context. This sets the foundation for the mechanism’s broader role in supporting mitigation activities that deliver tangible community benefits.
Category: Fuels
