Article 6 News
News Article 6, A6.2, ITMOs Country: Philippines, Republic of Korea
Philippines and South Korea fast-track Article 6 talks, target agreement around November
By Article 6 Network
The Philippines and South Korea are speeding up negotiations on a bilateral cooperation agreement under Article 6 of the Paris Agreement. Both sides are aiming to conclude it around November 2026. The deal would give Manila a second Article 6 partner and add to Seoul’s growing network of supply countries for ITMOs.
What happened
- The two governments have moved to fast-track talks on cooperating through Article 6 carbon market mechanisms.
- They are targeting a concluded agreement around November 2026, which coincides with the COP31 negotiating window.
- The talks build on the existing bilateral relationship. At the March 2026 presidential summit, both leaders signed 10 deals spanning trade and investment, infrastructure, defense, shipbuilding, AI, digital technologies and other areas. ( koreatimes )
- The Philippines already has one Article 6 framework in place. It signed an MOU with Singapore’s Ministry of Trade and Industry in August 2024 to collaborate on carbon credits under Article 6.2. ( DENR )
Why it matters
- For governments: This is another bilateral deal in Asia-Pacific between a large-buyer country and a host country. Korea relies heavily on international mitigation to meet its 2030 NDC, so each new host agreement widens its pipeline of ITMO supply. For the Philippines, a second partner after Singapore builds negotiating leverage and tests whether its authorization and corresponding-adjustment processes can handle several buyers at once.
- For readiness: Agreeing a deal is quicker than putting it into operation. Manila is still building its domestic Article 6 infrastructure. The DENR, Department of Energy, Climate Change Commission and other agencies are still working on governance structures, authorization processes, MRV systems, registry development and broader carbon pricing. Whether projects can be authorized on time will matter more for issuance than the November signing date. ( UNFCCC )
- For investors and developers: A Korea–Philippines framework would open a sovereign-backed demand channel for mitigation in the Philippines. Likely candidates include renewables, energy efficiency, e-mobility and nature-based activity, subject to the eligibility list. Developers already active in the country should watch the agreement’s sector scope, any exclusions, and the share of mitigation the Philippines keeps for its own NDC.
- What to watch: The text of the agreement, its eligible activities and authorization procedures, the first pipeline projects named, and whether signing happens at COP31.
