Sweden and Ivory Coast Sign Landmark Article 6.2 Climate Agreement at COP 31

Sweden signed a bilateral agreement with Ivory Coast under Article 6.2 of the Paris climate agreement on Friday on the sidelines of the UN Cop 31 climate conference in Antalya, Turkey, Argus Media reported.

The deal enables Sweden to finance emissions reductions in Ivory Coast and count them towards its own targets. As an EU member, Sweden will not count the reductions against its nationally determined contribution to the Paris Agreement, which falls under the EU target, but will use them to go beyond its mandatory reductions. Ivory Coast has signed its first Article 6.2 agreement.

Swedish Article 6 activities in Ivory Coast focus on sustainable transportation, renewable energy, and the green transition. The Global Green Growth Institute carries out these projects with the support of the Sweden-financed Article 6 Climate Cooperation Facility, known as ACCTIF, the Swedish Energy Agency stated.

The Global Green Growth Institute also supports Article 6 readiness in Ivory Coast. Article 6.2 provides a framework where host countries receive finance from developed nations to cut greenhouse gas emissions in exchange for internationally transferred mitigation outcomes, or Itmos, which developed countries can use against their own targets.

Sweden has previously signed Article 6.2 agreements with the Dominican Republic, Ghana, Kenya, Nepal, and Zambia, alongside a memorandum of understanding with Rwanda. Sweden also holds a memorandum of understanding with Switzerland that allows for the transfer of a symbolic amount of Itmos from captured industry emissions between the two countries.

The sale from Sweden to Switzerland will be a simulated Itmo transaction, whereas the sale from Switzerland to Sweden will consist of an actual transfer of 2t, which the Swedish Energy Agency expects to take place in early 2027.