What are ITMOs?
Through the Paris Agreement, each country committed to reach the goals set in its Nationally Determined Contributions (NDCs) within and beyond national boundaries to limit the rise in global average temperature.
Article 6: the nations are allowed to negotiate “cooperative approaches” to reach their NDCs, including by using Internationally Transferred Mitigation Outcomes (ITMO).
They are meant to replace other existing forms of international carbon credits in the new international climate framework.
For countries that choose to participate, ITMOs bring many benefits:
Contribute to the fight against climate change through the global mitigation of emissions in host countries. As a result, these counties benefit from mitigation activities that will produce emission reductions. These reductions can then be transferred to other participating countries to meet their NDCs.
Encourage and facilitate the participation of public and private multinational entities, authorized by their respective governments.
Improve the quality of life of vulnerable communities through the design of projects that meet their needs and contribute further to meet the SDGs.
Summary: In 2017, bilateral discussions began between Peru and Switzerland's governments for potential collaboration through Internationally Transferred Mitigation Results (ITMOs) within Article 6 of the Paris Agreement. The Climate Cent Foundation (CCF), on behalf of the Swiss government and in coordination with the Peruvian government, commissioned Microsol to design and implement a pilot project focused on the installation of improved stoves in rural communities of Huanuco and La Libertad. We expect to have the first results of the pilot by the end of 2021. Our goal after is to develop a large-scale programme based on the results and findings of the first pilot.
Learn more about the Project: Click to visit Tuki Wasi
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