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ARTICLE: Cop29 not the disaster it was made out to be. And here’s why

(Irish Independent) — December 1, 2024 — The surprising success of COP29 The mainstream coverage of COP29 focused on the inadequacy of the finance agreed for poor countries. (Rich countries have offered less than a quarter of the $1.3tn that was agreed was needed.) But away from that argument, agreement was reached on something known as Article 6.

Michael Mathres, who was in Baku as an adviser to the Coalition for Rainforest Nations and is co-founder of ITMO Ltd, a carbon credits company, told me this was the most significant achievement in 16 years of COPs he had attended. Article 6 is the part of the 2015 Paris Agreement that regulates carbon trading, but final agreement on how it should work had been evasive until Baku. Article>>

#ITMOs #Article6 #COP29 #ComplianceCarbonMarket #CarbonCredits #ParisAgreement

ARTICLE: ITMO Market Shows Promise – But Needs Structure

(NASDAQ) — November 24, 2024 — The voluntary market for trading carbon credits—which allows corporates and other buyers to acquire credits, while also allowing sustainable projects and Global South economies to access financing—has in turn grown. But there’s another burgeoning market solution that’s showing great promise in helping countries scale their climate ambitions and work toward emission commitments.

Internationally Transferred Mitigation Outcomes (ITMOs) are becoming increasingly important as the first agreements between sovereign countries are reached and a global deal pipeline builds. Taken together with other developments, like the possible conversion of REDD+ results into ITMOs, and the potential for the mitigation outcome market is clear. The necessary work is now to help establish, institutionalize and mature the market through infrastructure and transparency. Article>>

#ITMOs #Article6 #COP29 #ComplianceCarbonMarket #CarbonCredits #ParisAgreement #REDD+

ARTICLE: COP29 Voluntary Demand is Gaining Steam

(OPIS/Dow Jones) — November 22, 2024 — The private sector may begin to pick up some of the slack, said Michael Mathres, Chief Marketing Officer of ITMO ltd. The company promotes UN Framework Convention on Climate Change REDD+ credits developed by members of the Coalition for Rainforest Nations. According to Mathres, his company has had over 200 conversations with interested buyers in recent months, the majority of which have been voluntary actors. ITMO ltd has been working to sell credits issued to Suriname since August.

“Our focus here at COP29 has been to find that first buyer,” Mathres continued. “We have five very interested buyers and we have meetings with them today. So we’re hoping we can announce something this week, fingers crossed.” Article>>

#ITMOs #Article6 #COP29 #ComplianceCarbonMarket #CarbonCredits #ParisAgreement #BiodiversityCredits

ARTICLE: Scaling Biodiversity Finance with ITMOs

(Illuminem) — October 23, 2024 — As the 16th Conference of the Parties to the Convention on Biological Diversity (COP 16) will take place in Cali, Colombia, this week, finance will be a key focus. Global leaders will meet to discuss the COP15 Kunming-Montreal Global Biodiversity Framework (GBF) of mobilising at least USD 200 billion annually from both public and private sources for biodiversity funding by 2030. This paper explains that there is currently only one globally-compliant Sovereign financial instrument that exists that can be scaled today to meet this goal and at the same time, the UNFCCC Paris Agreement: Biodiversity-Linked Sovereign Carbon Credit ITMOs. Article>>

#ITMOs #Article6 #CCM #ComplianceCarbonMarket #CarbonCredits #ParisAgreement #BiodiversityCredits

ARTICLE: How can EU countries and companies use ITMOs?

(Illuminem) — October 8, 2024 — How can EU countries and European companies use ITMOs? Here is the latest article on illuminem. In light of COP29 Azerbaijan focus on finance, EU Environment and Climate let’s catalyse this new $50bn Compliance Carbon Market (CCM) under the UN Climate Change Paris Agreement. If you want to know more please contact us ITMO Ltd. hashtag#ITMOs hashtag#Article6 hashtag#EU hashtag#CCM hashtag#ComplianceCarbonMarket hashtag#CarbonCredits hashtag#ParisAgreement
https://illuminem.com/illuminemvoices/how-can-eu-countries-and-companies-use-itmos

ARTICLE: Suriname Sparks $50bn Compliant Carbon Market

(Bloomberg) — October 3, 2024 — Jungle-Covered Suriname Looks to Spark $50 Billion Compliant Carbon Market. Dr Ian Robinson, chief executive officer of ITMO Ltd. Capital, forecasts the market for UN Climate Change-backed carbon credits will reach $50 billion within five years. “Not only does it reward these countries for protecting and enhancing the quality of the forest and biodiversity,” Dean Tyler, BancTrust & Co. said, “it also should drive a financial incentive to improve and reduce our own emissions as well.”…By Zijia S. and Ezra Fieser. https://lnkd.in/efGQfMCA

#Suriname #CarbonCredits #Article6 #ITMOs #CCM #ParisAgreement #Biodiversity

ARTICLE: Meeting CORSIA’s demand with sovereign ITMOs

(Illuminem) — September 30, 2024 — As the airline industry entered its first CORSIA decarbonisation implementation phase (2024-2026) there is currently a shortage of Eligible Emission Units (EEUs) to help the industry meet its climate-compliant targets. ITMO Ltd. explores how this can be resolved by using Sovereign Article 6 ITMOs from the Paris Agreement. #CORSIA #ITMOs #Article6 #ComplianceCarbonMarket #CCM #EEUs

https://illuminem.com/illuminemvoices/meeting-corsias-demand-with-sovereign-itmos

ARTICLE: Suriname Offers World’s First Volume of 1.5 Million UN REDD+ ITMOs

(S&P Global) — August 24, 2024 — Suriname puts 1.5 million Article 6 credits on sale. “These are carbon reduction ITMOs vintage 2021 that represent rainforest conservation for the whole country of Suriname, and come after three years of due process and due diligence with Suriname and the UN Climate Change (UNFCCC),” ITMO Ltd. said in a joint statement. For the full article please email michael@itmo.com

#ITMOs #Article6 #ParisAgreement #CarbonCredits #Nature #Biodiversity #UNFCCC

ARTICLE: Suriname Offers World’s First Volume of 1.5 Million UN REDD+ ITMOs

(OPIS/DOW JONES) — August 24, 2024 — Suriname made 1.5 million REDD+ credits verified under a UN Climate Change program and authorized for international transfer under the Paris Agreement available for sale, the Latin American country announced Friday. The offer process was aided by ITMO Ltd., a business formed to facilitate carbon credit trades for members of the Coalition for Rainforest Nations. BancTrust & Co. was tapped to serve as a settlement partner, ITMO Capital CEO Dr Ian Robinson told OPIS, A Dow Jones Company. For the full article please email michael@itmo.com

#ITMOs #Article6 #ParisAgreement #CarbonCredits #Nature #Biodiversity #UNFCCC

ARTICLE: Suriname’s plan to finance the protection of its forests

(Financial Times) — August 23, 2024 — Suriname’s plan to finance the protection of its forests. Today, Suriname announced its first offering of sovereign carbon credits, together with London-based investment bank BancTrust & Co. and ITMO Ltd. Ltd, a private company that structures and trades in these instruments. The plan relies on a system for global carbon accounting created in the UN Climate Change’s 2015 Paris Agreement. Under that system, countries can trade sovereign units of emissions, called internationally transferred mitigation outcomes (ITMOs), and count these towards their carbon-cutting goals, so-called nationally determined contributions (NDCs). For full article>>

#ITMOs #Article6 #ParisAgreement #CarbonCredits #Nature #Biodiversity #UNFCCC

ARTICLE: Suriname Offers 1.5m Carbon Credits to Corporates

(Carbon Pulse) — August 23, 2024 — Suriname offers up 1.5 mln sovereign rainforest carbon credits to corporates. Suriname has offered up 1.5 million sovereign V21 carbon credits, authorised for international trade under Article 6, according to a release Friday. “These are carbon reduction ITMOs V21 that represent rainforest conservation for the whole country of Suriname, and come after three years of due process and due diligence with Suriname and the UN Climate Change UNFCCC,” ITMO Ltd. stated. For the whole article >>

#ITMOs #Article6 #ParisAgreement #CarbonCredits #Nature #Biodiversity #UNFCCC

ARTICLE: First sovereign ITMOs approved under Article 6

(Environmental Finance) — August 23, 2024 — First sovereign ITMOs approved under Article 6. The first sovereign carbon credits approved under Article 6 of the Paris Agreement have been issued by the Republic of Suriname. These credits are verified and validated by the UN Climate Change, within its REDD+ methodology (Reducing Emissions from Deforestation and Forest Degradation in Developing Countries). For full article>>
#ITMOs #CarbonCredits #Article6 #ParisAgreement

ARTICLE: Suriname offers 1.5m t of UN REDD+ units as ITMOs

(Quantum Commodity Intelligence) — August 23, 2024 — MEDIA ARTICLE (Quantum Commodity Intelligence): Suriname is making 1.5 million carbon reduction units available for sale, ITMO Ltd., an organisation acting on behalf of rainforested nations, said on Friday. The credits are being offered for sale as Internationally Transferred Mitigation Outcomes (ITMOs) – the same name as the effective ‘currency’ of the Paris Agreement’s Article 6.2 mechanism. Read the article >>

VIDEO: Coalition for Rainforest Nations Executive Director, Kevin Conrad, Talks about Suriname’s ITMOs Issuance

(Climate Investment Summit) — July 15, 2024 — Kevin Conrad, Executive Director, Coalition for Rainforest Nations was on a panel at the Climate Investment Summit 2024 to discuss Suriname’s first ITMOs issuance and how the country successfully achieved that. The panel “Building Credible Pathways: Navigating Carbon Markets with Impact and Integrity” was organised with the London Stock Exchange and included Adrian Rimmer, Director, Sustainable Finance and Investment, LSEG Markets, London Stock Exchange Group; Nigel Howorth, Partner, Clifford Chance LLP; and Audrey Goldstein, Director, Carbon Market Development, Standard Chartered Bank. Kevin was also interviewed and the Video can be seen here (LINK). #ITMOs #CarbonCredits #ITMO

VIDEO: Suriname Environment Minister, Marciano Dasai Launches the World’s First ITMOs at the London Stock Exchange

(Climate Investment Summit) — June 26, 2024 — The world’s first Sovereign Carbon ITMOs under Article 6 were launched by Suriname at the London Stock Exchange during the Climate Investment Summit 2024. The Suriname Environment Minister, Marciano Dasai, officially communicated this via video (LINK) in front of several hundreds of corporations and investors. In it he also discussed how the private sector can buy these historic ITMOs, what the money will be used for and how it can benefit to Suriname’s sustainable economic growth. #ITMOs #CarbonCredits #ITMO #biodiversity #SDGs #ParisAgreement #Article6

ITMO and its Law Firm, Clifford Chance win Best Environmental Protection Award

(Legal500) — April 25, 2024 — Clifford Chance won Best Law Firm Advisory Team on its Environmental Protection work with ITMO Ltd and the Coalition for Rainforest Nations. This category recognises the best ESG initiative in the UK Legal Market on environmental protection matters. Judges looked for evidence of involvement in the most innovative or complex environmental protection work, and considered work across the whole spectrum of practice areas, including environmental litigation. The initiative/paper “SOVEREIGN REDD+ MECHANISM UNDER ARTICLES 5 AND 6 OF THE PARIS AGREEMENT” aimed to explain, in a simple manner, how Sovereign Carbon Credits from Rainforest countries under Article 5 fit into Article 6 of the Paris Agreement Carbon Market, and how they can be used by the private sector and investors.

Climate Finance: Key to Saving Rainforests and Keeping Temperatures in Check

(Environmental + Energy Leader) — DECEMBER 14, 2023 — Winning climate finance continues to challenge the Global South, nations that want to develop but that contribute minimal CO2. After COP28, some hope emerged. It centers on the green bond, which emerging countries can issue and guarantee a payback to investors through carbon credit sales. I spoke to two investment bankers who have come out of retirement to ensure that the developing world gets the money it needs to keep its rainforests standing and create 21st-century jobs. The alternative is giving farmers, miners, palm oil companies, and lumberers more access to those lands, allowing them to cut down the trees that absorb carbon dioxide.

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