Ghana poised to issue first transfer of emission savings

Ghana is set to issue its first Internationally Transferred Mitigation Outcomes (ITMOs), or carbon credits, by late 2024 or early 2025, through an improved charcoal cookstove project in partnership with Switzerland.

The initiative, involving 180,000 subsidized cookstoves for rural households, aims to cut toxic emissions and fuel costs. At a recent event, Environment Minister Ophelia Mensah-Hayford highlighted the program’s green job creation and technology transfer benefits.

Ghana has become a carbon market leader, attracting $850 million in investments and cooperative agreements with Switzerland, Sweden, Singapore, and South Korea to support its climate goals.