ITMO Ltd, in collaboration with BancTrust Investment Bank Limited (BancTrust) and the Republic of Suriname, has launched the world’s first UNFCCC Paris Agreement-authorised Internationally Transferred Mitigation Outcomes (ITMOs). These carbon reduction ITMOs, representing 1.5 mtCO2e and vintage 2021, result from three years of rigorous due diligence with Suriname and the UNFCCC and are dedicated to rainforest conservation across the entire country.
The Sovereign Carbon Credits, fully verified and validated under the UNFCCC REDD+ framework at both national and international levels, provide significant environmental value beyond carbon reduction. This includes protection of Suriname’s rainforests, conservation of biodiversity under the Cancun Safeguards and support for all 17 Sustainable Development Goals (SDGs) within Suriname. Additionally, it will also contribute to the country’s Nationally Determined Contribution (NDC) and economic, social, and governance benefits for local and indigenous communities, with 95% of proceeds returning to Suriname.
These ITMOs are the first of their kind from the new Paris Agreement Carbon Markets, enabling countries to issue and trade Sovereign Carbon with other nations and the private sector.
The official launch was announced at the Climate Investment Summit at the London Stock Exchange, drawing the attention of hundreds of companies and investors.
As global demand for Paris Agreement-compliant Carbon Credits surges, driven by corporate and national net-zero targets for 2030 and 2050, these ITMOs offer a scalable solution to help meet the 1.5°C climate target. According to the IPCC, they represent the second most impactful climate mitigation strategy.