The Gulf Organisation for Research & Development (GORD), which is the promoter of the Global Carbon Council (GCC) an international carbon credit and sustainable development program, has today launched a new Climate Action Center of Excellence (CACE) to accelerate the implementation of Article 6 of the Paris Agreement.
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The Gulf Organisation for Research & Development (GORD) has launched the Climate Action Center of Excellence (CACE) in Qatar, designed to accelerate the implementation of Article 6 of the Paris Agreement. This initiative, led by GORD, aims to drive public-private partnerships and support governments and the private sector in capacity building, climate finance, and policy solutions. These efforts are geared towards channelling essential funding into projects that reduce emissions and promote Sustainable Development Goals (SDGs).
Launched in tandem with the CACE, the Global Carbon Council (GCC) revealed a series of initiatives during COP28, including unveiling the Global Carbon Registry, a cutting-edge carbon registry solution. Additionally, GCC introduced new methodologies focusing on Carbon Capture and Storage (CCS) and Nature-Based Solutions (NBS).
Dr Yousef Alhorr, founding chairman of the Global Carbon Council, highlighted the critical role of innovative financial strategies and the need for private sector involvement to stimulate investment in mitigating climate change. He emphasized the CACE’s role in facilitating Article 6 implementation, fostering an ecosystem conducive to economic transformation, and driving a low-carbon transition.
The CACE focuses on three strategic pillars:
- Article 6 Readiness: Providing training for government and private sector entities to engage with carbon markets under the Paris Agreement effectively.
- ITMO Market Development: Connecting project developers with potential buyers through the Global Carbon Registry to maximize benefits for GHG reduction projects.
- Accelerated Decarbonization: Facilitating international cooperation to hasten global decarbonization through innovative policies and methodologies.
These pillars are supported by themes emphasizing digital technology for integrity, environmental and social safeguards, and strategic communication to scale Article 6 approaches.
Moreover, during COP28, GCC acquired the Global Carbon Registry, enhancing accessibility and market reach. Additionally, GCC introduced new program methodologies, such as regulatory frameworks for CCS and NBS, and joined hands with other market standards to promote integrity in carbon markets.
GCC’s engagements at COP28 aimed to highlight the pivotal role of carbon markets in accelerating renewable energy ambitions, aligning with global goals to triple renewable capacity by 2030.
The establishment of the Carbonica Excellence Hub is underway, with a primary objective to enhance and interconnect the innovation ecosystems across three countries. This initiative aims to facilitate Research and Innovation (R&I) collaboration, fostering carbon farming innovations. The Carbonica Excellence Hub endeavours to develop novel business models within the agrifood industry, strategically integrating considerations for carbon sequestration. Moreover, it seeks to create a collaborative platform involving policymakers and civil society stakeholders while concurrently promoting the reduction of carbon footprints within these regions (Cyprus, Greece, and North Macedonia). On top of that, CARBONICA Hub will help shape the long-term regional, national and EU policy initiatives and funding structures needed to increase the acceptance of carbon farming solutions. To be continued…