Overall Mitigation in Global Emissions: OMGE stands for “Overall Mitigation in Global Emissions.” It is a principle established under Article 6 of the Paris Agreement, which governs carbon markets and international cooperation on climate action. The core idea of OMGE is that carbon trading should result in a net decrease in global emissions, rather than merely offsetting emissions between parties. This means that a portion of the carbon credits generated through Article 6 mechanisms must be cancelled to ensure a net positive impact on the global climate. Specifically, 2% of all credits under Article 6.4 must be cancelled to support OMGE.This concept is crucial to ensuring that carbon markets contribute to actual emissions reductions, rather than just allowing for a neutral balance of emissions across different actors.
OMGE
