Public-private partnerships seen as key to achieving Paris Agreement
Malawi takes local climate action for global impact through Article 6
August 15, 2023
LILONGWE, Malawi: 20 July 2023 – More than 50 delegates, including representatives from the Government of Malawi, the Malawi Climate Finance Working Group, regional authorities, and private sector leaders met last week in Lilongwe for an intensive strategy session and training on how to take advantage of the opportunities afforded by Article 6 of the Paris Agreement on Climate Change.
The event, coordinated by the UNDP Malawi Country Office with the support of UNDP’s Carbon Payments for Development Facility (CP4D) and the governments of Switzerland and Malawi, introduced new opportunities for profit-oriented businesses that also benefit people and the planet.
Article 6 of the Paris Agreement offers a structured framework that encourages nations to use market-based approaches to limit global warming. It introduces mechanisms for international cooperation that allows countries to trade emissions reductions to help meet their national commitments more cost-effectively, while promoting sustainable development and environmental integrity.
UNDP Resident Representative Shigeki Komatsubara said Article 6 of the Paris Agreement offers a promising pathway for Malawi to fulfill its climate obligations while also supporting the nation's sustainable development. “By encouraging cooperation and the use of internationally transferred mitigation outcomes, the Article 6 approach can support a reduction in greenhouse gas emissions while stimulating investment in Malawi's key sectors,” he said. “This workshop will help the country to realize and operationalize this opportunity."
UNDP Climate Specialist Jane Swira said the workshop marks an important step in Malawi’s efforts towards achieving its climate goals. “By operationalizing Article 6.2, Malawi is able to unlock new opportunities for international collaboration and private sector engagement in the country's climate action, ultimately contributing to a more sustainable and resilient future for all Malawians," she said. “We hope to set a high bar in terms of best practice that can be replicated throughout the region.”
Under its updated Nationally Determined Contribution (NDC) of July 2021, Malawi adopted economy-wide targets to reduce greenhouse gas (GHG) emissions by 2040: 6 percent unconditionally, with an additional 45 percent contingent on external support.
In the market-driven approach of Article 6, private or state-owned enterprises are tasked with identifying and investing in opportunities that deliver a product or service while aiding in the reduction of Malawi's GHG emissions. This could span the spectrum from the development of wind power farms, the launch of electric public transportation services, to retrofitting buildings with energy-efficient insulation.
Media enquiries and for more information: email@example.com. Phone: +265-1-773-500
Turning trash into treasure: UNDP investing in waste management to create youth opportunities
With support from UNDP’s recovery programme, the MGC initiative is engaging 2000 youths to rehabilitate 5000 hectares of degraded areas and waste hotspots while p...