Accra: Ghana is preparing to execute its first transfer of Internationally Transferred Mitigation Outcomes (ITMOs) by late 2024 or early 2025, marking a significant milestone in the nation's climate action efforts. The ITMOs, representing verified emission savings, will be generated from an improved charcoal cookstove project and are part of a cooperative agreement between Ghana and Switzerland. According to Ghana News Agency, the announcement was made by Madam Ophelia Mensah Hayford, the Minister of Environment, Science, Technology, and Innovation, during an event in Accra. The event, organized by the Klik Foundation and the Carbon Market Office of the Environmental Protection Agency, convened stakeholders from the carbon market sector to discuss solutions for reducing carbon dioxide emissions under Article 6 of the Paris Agreement. The ITMOs will arise from a project developed by ACT Commodities and Envirofit, involving the distribution of 180,000 biomass cookstoves to smallholder farmers at subsidized pr ices. The initiative aims to significantly cut down smoke and toxic emissions in households and reduce cooking fuel costs substantially. Madam Mensah-Hayford emphasized that the agreement's goals extend beyond emission reductions, targeting the creation of green jobs, technology transfer, and private sector involvement in achieving nationally determined contributions. She highlighted that several projects have already secured investments totaling over $850 million. Switzerland's Ambassador to Ghana, Madam Simone Giger, praised Ghana's efforts, noting the country's leading position in carbon offsetting under Article 6. She attributed the success to strong collaboration among institutions and local partners, which has attracted considerable international interest and investment. Mr. Yannick Träris-Kahriman, Director of Carbon Procurement at Klik Foundation, expressed optimism about the progress made under the Ghana-Swiss agreement. He acknowledged the technical challenges overcome to engage the private secto r in Ghana, crediting the political commitment from both nations for expediting project development and implementation. Ghana is committed to leveraging the carbon market to support its climate mitigation strategies and has formed cooperative agreements with several countries, including Sweden, Singapore, and South Korea, to finance its Nationally Determined Contribution programs.