MDB Working Group
MDB Working Group
The MDB Working Group on Article 6 of the Paris Agreement (MDB WG) is a group of multilateral development banks (MDBs) that are working on the design and piloting of carbon market and non-market mechanisms under Article 6 of the Paris Agreement.
Purpose
Purpose
The MDB WG’s goal is to position Article 6 as a high strategic priority in climate negotiations and encourage Parties to leverage cooperative approaches under Article 6 as an important tool to deliver Nationally Determined Contribution (NDC) commitments cost-effectively. A second objective is to find mutually interesting opportunities to pilot Article 6 transactions through the MDB investment portfolio.
Implementation
Implementation
The MDB Vice-Presidents and Senior Directors agreed to establish a MDB Working Group (WG) to support the design and operationalization of Article 6 during the IMF-WBG Annual Meetings in October 2017. To support this goal, the WG meets regularly to share experience and knowledge on Article 6-related activities.
Usage
Usage
The MDB WG serves as the Secretariat of the Climate Market Club, supporting the development of modalities for piloting activities under Article 6, paragraph 2 of the Paris Agreement. Also, the WG participates in the Taskforce on Scaling Voluntary Carbon Markets (TSVCM) as a consultative group to share their insights on potential governance, carbon credit and market integrity principles, and legal principles that would sustain the operation of the next generation of the carbon market.
Current Involvement
Current Involvement
Current members include Asian Development Bank (ADB), African Development Bank (AfDB), the European Bank for Reconstruction and Development (EBRD), the European Investment Bank (EIB), the Inter-American Development Bank (IDB), the Islamic Development Bank (IsDB), and the World Bank Group (WBG).
