Platform for

Voluntary Bilateral Cooperation

Article 6 of the Paris Agreement details a set of tools and mechanisms, such as cooperative approaches and the transfer of Internationally Transferrable Mitigation Outcomes (ITMOs), that can stimulate investments into mitigation activities and NDC implementation.

Article 6 provisions use of voluntary cooperation in the implementation of NDCs via market and non-market-based approaches i.e., the implementation of climate change mitigation and adaptation plans.

Article 6.2 and 6.3 provisions of voluntary cooperative approaches refer to the use of ITMOs towards Nationally Determined Contributions (NDCs), promote sustainable development, environmental integrity and transparency, including in governance, and shall apply robust accounting to ensure, inter alia, the avoidance of double counting, consistent with guidance adopted by the COP/MOP. Article 6.2 and 6.3 offer a “decentralised” and country-led approach to the governance of cooperative approaches but place safeguards at the level of the UNFCCC to ensure the integrity of mitigation outcomes when they are transferred internationally and used to help achieve NDCs.

Simplify and standardize the national processes and harmonize them across countries to achieve more transparency and comparability.

Countries are already engaging on a bilateral basis to develop the first programmes that will result in commercial transactions between two countries, yielding numerous sustainable development benefits for both countries.
Payments for ITMOs through the cooperative approaches under Article 6.2 provide financial incentives designed to encourage investments into an emission reduction activity; de-risking the financing of mitigation activities and enabling projects to get up and running.

Significantly lower transaction cost

Massively shorter time to implementation

Increase institutional readiness

Enabling
Technology

The digital Platform for Voluntary Bilateral Cooperation facilitates the implementation of national ITMO project implementation processes in host and buying countries.

The ITMOs project implementation procedures are being developed in the light of Article 6 of the Paris Agreement and decisions of the CMA and the NDCs of the host and buying governments. The ITMO project implementation procedures have also adopted the learnings from existing carbon market-based mechanisms such as the CDM, Gold Standard, Verra, ISO-14064, Standardized Crediting Framework (SCF) etc.

However, the ITMO project implementation procedures are subject to revisions and updates over time based on new international guidance by the CMA, updated NDCs of the host and buying governments, and potential future bi-lateral and multilateral agreements with other countries or development partners.

The ITMO project implementation steps are detailed in the host country sections.

Raise the ambition
climate mitigation measures.

”

ITMO Project Idea Note

Developer explains the proposed mitigation activity, rationale for generating the ITMOs, and monitoring plan, governance arrangements, contribution to sustainable development and financial requirements.

ITMO Project Design Document

The mitigation activity developer prepares the ITMO Project Design Document using recommended emissions baseline and monitoring methodology

Validation

Independent auditors validate the developer’s mitigation project. Ministry, national entities and agencies examine it, and Article 6 Secretariat approves the validation report.

Authorization and registration

Host and buying country governments authorize ITMO project, Article 6 Secretariat register and publish it.

Verification

Independent auditor (published by the Article 6 Secretariat) verifies that emission reductions took place in the amount claimed, according to the approved monitoring plan.

Implementation

The developer implements mitigation activity and starts to monitor according to the approved monitoring plan

ITMOs Issuance

The administrative checks will follow with the signing of the Certificate by the Article 6 Secretariat and the generation of serialised ITMOs into the buying entity's holding Account

ITMOs Transfer

Share of Proceed will be deducted for administrative purposes and ITMOs transferred accounted in the National Registry (National GHG Inventory Registry) of the transferring country

countries

Buying countries and host countries closely work to ensure projects are developed in the most performant and transparent way. The buying country ensures the completion of the project and manages the economic side. The host country oversees the projects and manages the issuances and the corresponding adjustments

BUYING COUNTRIES

Switzerland

HOST COUNTRIES

Ghana

Vanuatu

Who

All involved actors have a critical role in the mitigation activities.
Developers and validators/verifiers can apply and actively create and validate mitigation activities and verify the generated ITMOs.