Source link : https://tech365.info/climefi-buildings-first-itmo-cdr-switch-between-switzerland-norway-cleantechnica/
A cross-border carbon removing transaction between Norway and Switzerland has been accomplished beneath Article 6.2 of the Paris Settlement, marking a first-of-its-kind implementation within the sturdy carbon removing (CDR) market. The deal entails the switch of Internationally Transferred Mitigation Outcomes (ITMOs) from Inherit Carbon Options in Norway with assist of Sumitomo Company to a coalition of Swiss patrons, coordinated by ClimeFi in collaboration with the Swiss Federal Workplace for the Atmosphere (FOEN).
The transaction facilities on CDR credit generated from biomass-based carbon removing with everlasting geological storage in Norway. These credit, verified and tracked beneath Article 6.2, have been transferred to Swiss-based company patrons together with Swiss Worldwide Air Traces, Swiss Submit, Swiss Re, UBS, and Zürcher Kantonalbank. A signing ceremony passed off in Norway on June 17, 2025, signaling a significant milestone in operationalizing Article 6 for sturdy carbon markets.
“The storage of CO2 will also be important for Switzerland on the way to the net-zero target. This technology complements our existing instruments for decarbonisation. I am therefore delighted with the agreement with Norway. It strengthens innovation, is an opportunity for the economy and strengthens the partnership between Switzerland and Norway,” mentioned the Swiss Minister for the Atmosphere, Transport, Power and Communications, Albert Rösti.
Not like standard carbon…
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Author : tech365
Publish date : 2025-06-20 17:54:00
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