Article 4Voluntary Cooperation under the Paris Agreement

1. The Parties recognize that the voluntary cooperation between the Parties allows for higher ambition in their mitigation and adaptation actions and promotes sustainable development and environmental integrity, as set out in Article 6 of the Paris Agreement.

2. The Parties shall make efforts to utilize the potential of the voluntary cooperation set out in Article 6 of the Paris Agreement, as provided in Article 3(b) and 3(c) of this Agreement, which will involve the use of mitigation outcomes that are to be considered by the Committee set out in Article 6 of this Agreement.

3. The mitigation outcomes approved by the Committee set out in Article 6 of this Agreement based on the voluntary cooperation of the Parties can be used towards the implementation and achievement of each Partyʼs NDCs, and in this case, the corresponding adjustment stipulated in paragraph 2 of Article 6 of the Paris Agreement shall be made.

4. The Parties shall not use mitigation outcomes that are used towards each Partyʼs NDCs under paragraph 2 of Article 6 of the Paris Agreement for other international mitigation purposes.

5. The allocation of mitigation outcomes shall be determined by the agreement among the participants, taking into consideration their contributions to the voluntary cooperation such as the proportions of the investment. When agreed by the Parties, the allocation of mitigation outcomes will be endorsed by the Joint Committee set out in Article 6 of this Agreement.