A coalition of IETA, the Project Developer Forum, and the Wildlife Conservation Society has issued an open letter to COP31 delegates in Antalya, urging formal guidance to reform the Paris Agreement Crediting Mechanism (PACM) under Article 6.4. The letter highlights slow methodology development, complex baseline rules, and high uncertainty requirements as key barriers to project uptake and financial sustainability. The coalition proposes five priority interventions: an official impact assessment of methodological tools, revised downward adjustment and uncertainty rules, broader participation for capacity-constrained countries, pragmatic reversal risk frameworks for nature-based projects, and governance improvements including predictable calendars and clearer methodology prioritization. The goal is to make Article 6.4 commercially viable and able to mobilize private capital for global climate action.
