Carbon credits originating from Clean Development Mechanism (CDM) projects are once again gaining prominence in international discussions on climate finance and corporate decarbonization strategies. With the possibility of transitioning these projects into the Article 6 mechanism of the Paris Agreement, a new alternative is emerging within the global carbon market, particularly for companies seeking assets with a consolidated monitoring history, mature methodologies, and international recognition.
Recently, in May 2026, Brazil’s Ministry of Environment and Climate Change announced the partial results of the transition process of Brazilian CDM projects to the Article 6.4 mechanism, confirming that 96 Brazilian projects and programs applied for migration to the new international framework, of which 80 have already completed the review process with a favorable decision.
This movement signals not only a regulatory update but also a possible revaluation of climate assets that, for years, played an important role in building the global carbon market.
More than a change of mechanism, what is happening is a transition in market architecture.
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THE FOUNDATIONS OF THE GLOBAL CARBON MARKET
The CDM was responsible for structuring the technical and operational foundations of the international carbon market. Through it, several developing countries received investments in renewable energy, methane capture, energy efficiency, and other mitigation initiatives.
Brazil, in particular, played a prominent role in this process, establishing itself as one of the leading countries in the number of registered projects.
Historical figures from the CDM itself help illustrate the relevance this mechanism had in consolidating the global carbon market. According to data from the United Nations Framework Convention on Climate Change (UNFCCC), the CDM has issued approximately 2.46 billion CERs (Certified Emission Reductions) throughout its history, becoming the largest international carbon credit mechanism ever established.
Considering the volumes issued and historical average CER prices throughout different market cycles, it is estimated that the mechanism generated more than US$ 50 billion over the past two decades.
It is important to emphasize that this figure represents an estimate based on historical average prices. Nevertheless, it helps demonstrate the economic scale achieved by the CDM in financing renewable energy projects, energy efficiency initiatives, methane capture projects, and other mitigation activities in developing countries.
More than financial volumes, these figures demonstrate how the CDM helped create a significant portion of the technical, methodological, and operational infrastructure that supports today’s carbon market.
MORE THAN A REGULATORY CHANGE, THIS IS A TRANSFORMATION OF MARKET ARCHITECTURE.
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THE TRANSITION TO ARTICLE 6
With the entry into force of the Paris Agreement, the market begins operating under a different logic. Carbon is no longer associated solely with isolated international commitments and now directly interacts with national climate targets, known as NDCs.
Article 6 emerges precisely as the mechanism that will structure this new generation of international carbon transactions.
However, there is an important point in this discussion that deserves attention.
The transition of CDM projects to Article 6 does not mean these assets have automatically become superior to credits originating from the voluntary market. Nor does it represent a complete replacement of the current dynamics of the carbon market.
What is being observed is an expansion of the alternatives available within a sector that tends to become increasingly diversified, sophisticated, and segmented.
In other words, credits linked to Article 6 should not be interpreted as a “silver bullet” for the global climate market.
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A MORE DIVERSE CARBON MARKET
Voluntary market credits continue to play an absolutely relevant role, especially in projects associated with forest conservation, nature-based solutions, environmental regeneration, carbon removal, and the generation of social co-benefits.
In many cases, these projects present high levels of innovation, territorial impact, and connection to corporate ESG agendas that go beyond simple emissions mitigation. In practice, the market tends to evolve toward a more plural environment, where different types of climate assets coexist to serve different corporate, regulatory, and financial objectives. Still, the migration of CDM projects to Article 6 brings important reflections.
For some time, projects originating from the CDM came to be viewed by part of the market as “legacy” assets from an earlier phase of carbon markets.
However, in a context where integrity, traceability, and methodological robustness have become central elements, many of these projects are attracting attention once again precisely because they possess characteristics that are increasingly valued.
A large portion of these initiatives has been operating for more than a decade, with a consistent monitoring history, consolidated methodologies, recurring international verification processes, and high operational maturity.
In a market that now faces increasing scrutiny regarding asset quality and reliability, this track record becomes a relevant differentiator.
INTEGRITY, TRACEABILITY, AND ROBUST METHODOLOGIES ARE BECOMING DECISIVE FACTORS.
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RENEWABLE ENERGY AND METHANE PROJECTS ARE GAINING RELEVANCE
This is particularly true for renewable energy and methane mitigation projects.
In recent years, methane has gained enormous relevance within the international climate agenda. This is because reducing methane emissions has a significant short-term impact on global warming. Initiatives such as the Global Methane Pledge have increased global pressure for solutions related to methane capture and mitigation, especially in the waste, energy, and agribusiness sectors.
At the same time, renewable energy projects continue to be strategic in many regions, particularly in countries that still depend on more carbon-intensive energy matrices. In this context, CDM-originated projects associated with these typologies may once again occupy an important position within the new global climate architecture. It is precisely within this scenario that 369 EcoCredits operates.
We closely monitor regulatory developments and structural transformations within the international carbon market, seeking to connect buyers with assets aligned with the requirements of the new climate economy.
Our portfolio includes projects related to renewable energy generation and methane emissions mitigation, project types that continue gaining relevance both in the voluntary market and in discussions surrounding Article 6.