Rwanda

Rwanda intends to meet its conditional contribution through the use of climate finance and international market mechanisms where appropriate, building upon the experience of the Clean Development Mechanism (CDM) and other existing market mechanisms. These include the potential involvement in international cooperative approaches under Article 6 of the Paris Agreement.

As described above, Rwanda’s NDC 3.0 targets for both mitigation and adaptation comprise of unconditional and conditional components. The following sources of funding can be considered relevant to the conditional component: Grants and philanthropy (e.g. non-recourse project finance, which could especially be anticipated in the LULUCF sector). Market-based mechanisms (e.g. through the crediting of specific project activities with emission reductions units (ERs) under Article 6.2 or Article 6.4 of the Paris Agreement, and including transfers of ERs under the Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA), with their treatment as international transfers of mitigation outcomes; ITMOs). Other types of international funding mechanisms (e.g. resultsbased finance, without ITMOs, which may encompass ‘mitigation contribution’ A6ERs under Article 6.4 of the Paris Agreement; nonmarket mechanisms under Article 6.8 of the Paris Agreement; unauthorised voluntary carbon market (VCM) transfers of credits originating from domestic project activities