Description:
The objectives of this study are threefold: a) to review and compare the PMR crediting-related activities presented in MRPs; b) to assess whether and how these crediting-related activities can stimulate scaled-up mitigation by creating a domestic environment (technical, regulatory and institutional) that can support a range of climate policies; and c) to identify opportunities for the PMR to consolidate the support. The study suggests that crediting can play a role in wider national climate policy development and discusses ways to assess how the crediting-related activities can serve to foster mitigation action under multiple policy instruments. This can be achieved through flexible activities that create readiness while minimizing regrets and/or through activities that maximize co-benefits for the Implementing Countries. The study observes that a number of crediting-related activities under the PMR have quite broad applicability for almost all policy instruments, notably data management, MRV and capacity building. The study, finally, suggests elements that can be considered when shaping the future work program to support the implementation of the crediting-related activities. It may be useful to continue and expand PMR support for a mix of activities that both support specific crediting instruments and bring wider benefits by paving the way for broader mitigation policies. This can be done using the suggested criteria of creating readiness while minimizing regrets, and maximizing benefits. It can also mean more explicitly expanding the goals of PMR activities, and supporting activities that serve multiple instruments, such as baseline and MRV activities that consider possible application for results-based finance or for regulatory systems in their design. Also, there is a need to identify ways to avoid duplication and maximize synergies with other initiatives supporting both market and non-market instruments of climate policy