National Carbon Market Framework 

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Rwanda's national carbon market framework details the administrative and institutional framework for Article 6 implementation, as well as the guiding principles to facilitate Rwanda's participation in carbon markets both within and outside Article 6 (6.2 6.4) and in non-market approaches under Article 6.8.
Administrative and Institutional Framework 
The institutional framework consists of an Extended Governing Board (Oversight Body) and an Article 6 Unit.
1) Oversight Body
The Oversight Body provides long-term oversight of adopting necessary legislation and institutional mandates for the support of Article 6 activities. Its responsibilities include:
<ul>
<li>Coordination among multiple ministries.</li>
<li>Advising on Article 6 participation strategy.</li>
<li>Monitoring of the implementation of the framework.</li>
<li>Coordination with other climate and sectoral initiatives.</li>
</ul>
2) Article 6 Unit
The Article 6 Unit, also known as the carbon market office, is tasked with defining and implementing the Article 6 Framework. It is responsible for:
<ul>
<li>Operationalizing activities;</li>
<li>Managing the share of proceeds;</li>
<li>Providing technical support;</li>
<li>Overseeing transparency and accounting requirements, including recording and reporting activities and managing corresponding adjustments;</li>
<li>Developing and implementing procedures to facilitate the country's participation in the framework, which includes:</li>
<ul>
<li>Identifying eligible mitigation activities;</li>
<li>Establishing authorisation and approval mechanisms;</li>
<li>Verifying and issuing Internationally Transferred Mitigation Outcomes (ITMOs);</li>
<li>Applying corresponding adjustments;</li>
<li>Integrating reporting and accounting into the national system for reporting to the United Nations Framework Convention on Climate Change (UNFCCC).</li>
</ul>
</ul>
3) Designated National Authority
The Rwanda Environment Management Authority (REMA), previously the Designated National Authority (DNA) for the CDM has been designated as the focal point for Article 6.4.
Policy Framework and Guiding Principles
Rwanda's guidelines for participation are in line with provisions of the Paris Agreement, and come with additional specifications for Rwanda's case. The framework mentions that the Government of Rwanda approves Article 6.2 activities and Article 6.4 projects based on national interest, and activities seeking recognition as non-market approaches require approval, and offset projects in the voluntary market need a letter of no-objection. Voluntary market projects labelled as Article 6 will imply the contribution of a share of proceeds (which can be thought of as a tax on market mechanisms) for the administration of carbon markets provision. There will also be special attention paid to forestry sector projects under Article 6, which will have to adhere to Law n47bis/2013 on the sale of forestry services.
Share of Proceeds Fees 
A share of proceeds will apply for the approval of Article 6 activities, and the issuance of a letter of no objection for voluntary market projects. However, the level of share of proceeds is yet to be determined.

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An aim to achieve a quantifiable outcome within a given time-frame, set by an institution such as a national government.

Policy instruments are techniques or tools used by governing authorities to promote certain policies in order to achieve predetermined goals. Put simply, instruments are how a government tries to achieve its goals, with this taxonomy being focused on national policy instruments.

Risk is the potential for adverse consequences resulting from the dynamic interplay between (climate-related) hazards, exposure, and vulnerability of affected human or ecological systems.

Groups  of people who are adversely affected by climate change or the response to it

A set of principles, processes, and practices that build economic and political power to shift from an extractive economy to a regenerative economy.

Renewable energy means all forms of energy produced from renewable sources in a sustainable manner.

Fossil fuel is a generic term for non-renewable energy sources such as coal, fossil gas, and oil (including crude oil, and petroleum products), that can be used for electricity and heat generation. Fossil fuels are hydrocarbons formed from pressurised and heated organic material buried over millions of years.

Molecules in the atmosphere that play a key role in the greenhouse effect by trapping heat radiating from Earth’s surface.

Area of the economy in which actors engage in identical or related activities.

In human systems, the process of adjustment to actual or expected climate change and its effects, in order to moderate harm, increase resilience or exploit beneficial opportunities. In natural systems, the process of adjustment to actual climate change and its effects; human intervention may facilitate adjustment to expected climate change and its effects.

The management and allocation of funds, assets and investments to meet various objectives

A long-lived, colourless gas, chiefly emitted from fossil fuel combustion, deforestation and cement production.

This sector involves the wholesale and retail selling of goods.

Terrestrial means "of the earth" and relates to the risks to ecological system that includes all living organisms and their interactions within land-based environments, such as forests, grasslands, and deserts.

Tradable permits are market-based tools that grant permission for specific activities, frequently used to regulate emissions. These permits can be issued within a trading system to manage environmental impacts.

Actions or measures to adapt terrestrial systems to climate change.

Energy derived from biological compounds that are renewable due to their short life cycle within the carbon dioxide cycle.

An integrated system of hazard monitoring, forecasting and prediction, that enables individuals, communities, governments, businesses and others to take timely action to reduce disaster risks in advance of hazardous events.

Financial actors and resources that are primarily directed towards climate change mitigation, adaptation and compensation.

Direct investments by the governments using public funds. This can be to support climate initiatives or integrate climate into other projects.

Activities of businesses and institutions that provide financial services and products to individuals and organisations.

Actions to adapt human health, healthcare systems and well-being to climate change.

The activities of industries involved in the production, distribution, and sale of energy, including electricity, gas, and renewables.

This sector creates and distributes information and entertainment through television, radio, print, and digital platforms.

A commitment to balance GHG emissions with removal by a certain point in time, effectively reducing the net emissions to zero

Activities of industries that extract natural resources, such as mining, oil, and gas, for commercial use.

Activities that relate to the production of goods and services from forests.

Actions or measures to adapt freshwater systems to climate change.

Heat extracted from the ground, usually in the form of hot water or steam and typically referred to as hydrothermal fluid.

The release of heat-trapping gases, primarily from human activities such as burning fossil fuels, agriculture and industry.

A financial institution that manages a country's currency and can promote climate-related initiatives through green monetary policy and other means.

This sector involves managing waste treatment, sanitation, pollution control and environmental cleanup.

Any substance with chemical properties that can cause physical harm to people or damage the environment, including ammonia, carbon monoxide, phosphine, chlorine, arsenic, cadmium, mercury, pesticides, dioxins, microplastics, benzene, asbestos, aflatoxins, fluoride, methanol, and toxins from marine sources.

Slow onset events evolve gradually from incremental changes over many years or from increased frequency or intensity of recurring events. As defined in the Cancun Adaptation Framework (2010), slow onset events include risks and impacts from rising temperatures, desertification, biodiversity loss, land and forest degradation, glacial retreat, ocean acidification, sea level rise, and salinization.

A target to reduce the prevalence of a greenhouse gas over a specific time frame

Activities that involve the cultivation of crops and raising of livestock for food, fibre, and other products essential for human life and industry.

Either money or something of monetary value is transferred between two or more organisations, people or countries.

Electrical energy generated from mechanical devices driven by flowing fresh water.

Kinetic energy of airflow transformed into useful energy, mostly electrical energy.

Production of electricity and heat from solar irradiation.

Activities that involve planning, designing and building infrastructure, residential, and commercial structures.

Conditions that enhance the feasibility of adaptation options. Enabling conditions include finance, technological innovation, strengthening policy instruments, institutional capacity, multi-level governance and changes in human behaviour and lifestyles.

This sector involves the distribution, treatment, and conservation of water resources.

Dedicated pool of financial resources for climate-related projects.

A company that is owned wholly or partially by the state, typically operating in key sectors.

A loan is a policy instrument where funds are provided to a borrower with the expectation of repaying the principal plus interest.

Actions or measures to adapt freshwater, coastal and marine systems to climate change.

Activities of government agencies and institutions that provide public services, enforce laws and manage public resources.

This sector involves activities that impart knowledge and skills to individuals, including formal schooling, vocational training and educational support.

This sector involves activities to move goods and people, alongside the storage of products.

Social inclusion is the process of improving the terms on which individuals and groups take part in society—improving the ability, opportunity, and dignity of those disadvantaged on the basis of their identity.

National Carbon Market Framework

Target

Policy instrument

Risk

Just transition

Renewable energy

Greenhouse gas

Economic sector

Adaptation/resilience

Finance