Ghana has officially issue and transfer its first 11,733 tons of Internationally Transferred Mitigation Outcomes (ITMOs) to Switzerland, under Article 6.2 of the Paris Agreement.
This development positions the country as the first African country and only the second globally to complete such a transaction under the cooperative mechanism of the Paris Agreement.
The ITMOs were generated through a clean cooking initiative titled the Transformative Cookstove Activity in Rural Ghana, implemented by Envirofit and ACT Group, with financing from the Foundation for Climate Protection and Carbon Offset (KliK).
Speaking at a cocktail reception in Accra on Wednesday to mark the success, Dr Ibrahim Murtala Muhammed, the Minister of Environment, Science and Technology, described the milestone as a moment of pride for Ghana.
He applauded the technical team behind Ghana’s carbon market architecture for the success.
Having become pacesetters in the carbon trade in Africa, Ghana had demonstrated her openness to bilateral cooperation geared towards exploring innovative ways to respond to climate change, the Minister said.
As part of measures to reduce carbon emissions and embrace climate-smart technologies, Mr Mohammed said he had submitted a memo to Cabinet for the development of a Bill to formalise Ghana’s Electric Vehicle ecosystem.
The Bill would help to address infrastructure challenges and provide tax rebates to reduce the cost of electric vehicles.
The Minister announced the Government’s directive for all saloon cars to be imported for appointees to be electric vehicles as part of the commitment to promoting the adoption of EVs.
Ms Simone Giger, the Swiss Ambassador to Ghana, Benin, and Togo, said the transfer was a landmark moment in the cooperation between Switzerland and Ghana on climate action.
Beyond the transfer of carbon credits, she said Switzerland was keen on working together with Ghana to pilot innovative climate projects that do not only contribute to emission reduction but aligned with Ghana’s sustainable development priorities.
Ms Giger said climate cooperation must deliver measurable benefits for the people and expressed optimism that through Switzerland’s bilateral agreement with Ghana, the two countries would set global standards in achieving climate goals.
“The transfer of this ITMO is proof that Article 6 of the Paris Agreement can work effectively, efficiently, transparently and fairly,” she said.
“So let us take this moment to celebrate, not just to celebrate, but also to recommit to scaling up our mission.”
Mr Felix Addo-Okyireh, the Director of Climate Change and Ozone, EPA, said the successful transfer of the first ITMO exemplified innovation and demonstrated how climate action could drive sustainable development.
He expressed confidence that the growth and expansion of Ghana’s carbon market ecosystem would deliver real results and create sustainable jobs for the people.
Ghana began laying the regulatory groundwork for carbon trading as early as 2020.
As of December 2024, Mr Addo-Okyireh said the country had earmarked 24 million metric tonnes of carbon credits available for transfer under Article 6.2, from a total potential of 64 million tonnes.
The CMO has received 70 project submissions for approval.
Among them is the clean cookstove initiative, which leads with 26 proposals aiming to distribute 9.1 million stoves by 2030.
Source: GNA
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