The lack of incentives for avoiding carbon emissions is at the root of the climate crisis constituting a need to align economic systems with low carbon development by putting a price on carbon. The project is part of the UNFCCC work programme to support the adoption of price-based policy tools. With the adoption of the Article 6 rulebook at COP 26, it can play a key role in supporting developing countries to put in place domestic as well as international cooperative arrangements to enable more ambitious mitigation action and targets. Therefore, the project supports developing-country parties in the consideration, development, adoption and implementation of price-based mitigation policies (in particular carbon pricing) for achieving their successive mitigation targets. Having in place good pricing instruments can then pave the way to higher ambition, especially once capacity has been built up and initial concerns have eased.
