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.
Developer explains the proposed mitigation activity, rationale for generating the ITMOs, and monitoring plan, governance arrangements, contribution to sustainable development and financial requirements.
The mitigation activity developer prepares the ITMO Project Design Document using recommended emissions baseline and monitoring methodology
Independent auditors validate the developer’s mitigation project. Ministry, national entities and agencies examine it, and Article 6 Secretariat approves the validation report.
Host and buying country governments authorize ITMO project, Article 6 Secretariat register and publish it.
Independent auditor (published by the Article 6 Secretariat) verifies that emission reductions took place in the amount claimed, according to the approved monitoring plan.
The developer implements mitigation activity and starts to monitor according to the approved monitoring plan
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
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
The project proponent is usually a company that requests approval for the development of a project in the host country.
Auditors are companies and experts that validate the project and verify the ITMO claims and ensure the effectiveness of the mitigation activity.