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Dear newsletter subscriber
Two weeks ago, the Climate Conference in Glasgow adopted rules for international cooperation on climate change mitigation, thereby creating a new market for certified greenhouse gas emission reductions of high environmental integrity. Today, the Climate Cent Foundation and the KliK Foundation signed the worldwide first commercial agreement for the purchase of such «Paris certificates» with Microsol S.A.S.. Proceeds from the sale of the certificates will fund the installation and maintenance of up to 60'000 energy-efficient cooking stoves in remote areas in Peru.
«Tuki Wasi» is set up as a programme of programmes that uses calls for tenders to contract companies that commit to installing a defined number of cooking stoves of specified quality. The stoves make it possible to reduce deforestation, increasing the binding of CO2 from the atmosphere in biomass.
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An innovative program structure
The Climate Cent and the KliK Foundations are acquiring together up to 960’000 so-called «Internationally Transferred Mitigation Outcomes» (ITMOs) from programme owner Microsol S.A.S. Each ITMO stands for one tonne of CO₂ emission reductions achieved by the year 2030.
The Climate Cent Foundation will pre-finance the scaling of the programme, especially the construction of the stoves, with more than half of the contract value. Over the past three years, it already provided pre-financing of CHF 1 million for a test phase, during which two companies successfully built 1'000 stoves in the regions of Huánuco and La Libertad.
In order for the «Tuki Wasi» programme to be able to generate ITMOs, it must be authorised by Peru. As the acquired ITMOs are to be used by Switzerland toward meeting its climate target under the Paris Agreement, the programme must also be authorised by Switzerland. The requirements to be met for the authorisation of «Tuki Wasi» and potential further programmes as well as for the delivery and transfer of ITMOs have been defined bilaterally by Peru and Switzerland in October 2020.
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Contact
Foundation for Climate Protection and Offset KliK
Mischa Classen, Director Carbon Procurement
+41 44 224 60 05
mischa.classen@klik.ch