NOVEMBER 15, 2023

Resolution No. 385/2023 – Ministry of Environment and Sustainable Development – National Strategy for the Use of Carbon Markets.


Environmental Law & Climate Change Department report | Resolution No. 385/2023 – Ministry of Environment and Sustainable Development – National Strategy for the Use of Carbon Markets (11.14.2023)

Approved the National Strategy for the Use of Carbon Markets (ENUMEC) within the framework established in measure FT-10 of the National Plan for Adaptation and Mitigation of Climate Change (link).

Its objective is to promote enabling conditions for the development of projects that contribute to the mitigation and adaptation to climate change in the national territory. The ENUMeC establishes 9 strategic axes and 63 actions for the implementation of carbon markets in the national territory, considering the possibility of participation and access to all new and existing carbon markets, both regulated (compliance) subnational, national, and international, as well as voluntary.

The standard states that the implementation of the ENUMEC will support the implementation of the NDC, increase the ambition of the NDC, contribute to sustainable development, contribute to increasing national budget revenues, and boost the development of associated environmental and social co-benefits.

The scope defined for the ENUMEC is:
– Territorial: subnational, national, and international carbon markets.
– Temporal: new and existing carbon markets.
– Types of markets: both regulated (compliance) and voluntary markets.
– Sectors and gases: all INGEI (National Greenhouse Gas Inventory) sectors and gases.
– Actors: all actors involved in carbon market issues from the national government, subnational governments, private sector, and civil society.
– Initiatives: all agreements, programs, and projects on carbon markets that are developed in the national territory.
The principles established for the use of carbon markets in the national territory are:
– Ensure full respect for national and provincial legislation, complying with national laws, regulations, and administrative framework applicable in Argentina.
– Ensure full respect for environmental safeguards and integrity in the design and implementation of the project or program.
– Contribute to compliance with successive NDCs, Adaptation Communications, the ELP, the PNAyMCC (by its Spanish acronym), jurisdictional Climate Change Response Plans, and the long-term objectives of the Paris Agreement.
– Contribute to the adaptation and financing of the implementation of the second National Adaptation Plan, as an adaptation component of the PNAyMCC.
– Contribute to sustainable and resilient development and poverty eradication in a way that does not compromise food production and prevents maladaptation.
– Respect jurisdictional Climate Change Response Plans and other subnational climate change policies and measures, in line with local development priorities, if applicable.
– Facilitate access to climate finance, promote technology transfer, and national and subnational capacity building.
– Ensure fair and equitable benefit sharing.
– Do not generate perverse incentives that result in lower ambition for climate change mitigation and adaptation.
The ENUMEC establishes the definition and implementation of institutional and governance arrangements that exclusively and comprehensively address the issue of carbon markets, promoting their regulation. To this end, it is proposed the creation of the National Office of Carbon Markets within the Ministry of Environment and Sustainable Development, which will be responsible for the implementation of the Strategy.
Recognizing the need for robust and transparent monitoring, reporting, and verification (MRV) systems for the implementation of carbon markets, in accordance with Article 13 of the Paris Agreement, the development and implementation of an MRV system for carbon market projects and their results will be promoted. In this way, the implementation of the ENUMEC will be monitored and international reporting to the UNFCCC (United Nations Framework Convention on Climate Change) will be facilitated, thus ensuring both the robustness of the information and its transparency.

To achieve the above, the MRV system for carbon markets will be linked and aligned with existing systems and structures, including, but not limited to:
– the National Climate Change Information System, established by Law 27,520,
– the National Greenhouse Gas Inventory System of Argentina (SNI-GEI-AR),
– the monitoring system of the second NPAMCC,
– the National Registry of Climate Change Mitigation Projects (ReNaMi) created by Resolution 363/2021.
– the REDD+ Registry, and
– the REDD+ Safeguards Information System.
The MRV system for carbon markets will be adapted as the implementation of this strategy progresses, based on national and subnational circumstances, priorities, and capacities.
The implementation of the ENUMEC is based on the following strategic axes:
– Enhance national and subnational access to climate finance,
– Participate in carbon markets regulated under Article 6 of the Paris Agreement and other national and international compliance markets,
– Accompany private sector participation in voluntary markets,
– Generate Non-Commercial Approaches under the scheme of Article 6.8 of the Paris Agreement,
– Accompany subnational governments that decide in the implementation of market schemes for the fulfillment of their jurisdictional Response Plans to climate change,
– Contribute to strengthening and financing for climate change adaptation through the implementation of carbon markets and non-market approaches,
– Develop national and subnational capacities for the implementation of carbon markets,
– Promote respect for safeguards and environmental integrity in the implementation of carbon markets, and
– Ensure national and regional interests in international negotiations.
Likewise, it instructed the Secretariat of Climate Change, Sustainable Development, and Innovation to promote the necessary actions and processes for the implementation of the National Strategy approved in the preceding article, in coordination with the provincial jurisdictions and the Autonomous City of Buenos Aires and the actors and sectors of the public and private sector involved in the subject.

Please, do not hesitate to contact us should you require any further information on this matter.


Manuel Frávega