Ghana has made history as the first African country to issue carbon credits under the Paris Agreement, following a landmark deal with Switzerland.
On July 7, 2025, the two countries completed the transfer of 11,733 Internationally Transferred Mitigation Outcomes (ITMOs) generated from a clean cookstove project in rural Ghana. The initiative, financed by the Swiss-based KliK Foundation, aims to cut harmful emissions while lowering household fuel costs.
The agreement represents Africa’s first transaction under Article 6.2 of the Paris Agreement and the world’s first ITMO transfer from a clean cooking project.
Dr. Daniel Tutu Benefoh, Head of Ghana’s Carbon Market Office, hailed the deal as a “significant milestone” that showcases the potential of cooperative climate action. Swiss Ambassador Simone Giger said the transaction proves that Article 6 can work “efficiently, transparently, and fairly.”
Ghana has already earmarked 24 million metric tons of carbon credits for transfer by 2030 and is reviewing more than 70 project proposals, including 26 clean cookstove initiatives. The government projects that the carbon market could generate at least US$9.3 billion by the end of the decade.
