Some country representatives arrived early and attended CfRN’s capacity-building sessions on 14th and 15th September. Our team provided training focused on how to manage and use the newly created national registries that are now required under Article 6 of the Paris Agreement. CfRN provides all capacity-building and technical training free of charge to our countries.

On Monday September 18th, CfRN kicked-off NY Climate Week by signing a Memorandum of Understanding (MOU) with the Democratic Republic of Congo (DRC). DRC has signaled the intention to issue sovereign REDD+ units and sought support from CfRN to help it accelerate its participation in the UN REDD+ framework. DRC holds the world’s second largest forest reserves in the world and will now receive support in capacity-building as well as help to sell its credits. At the official ceremony in New York, the Environment Minister, Eve Bazaiba signed the MoU alongside Kevin Conrad, Executive Director, CfRN

On the same day, Suriname announced its intention to sell the world’s first carbon credits under the Paris Agreement, Article 6. The carbon credits, called Internationally Transferable Mitigation Outcomes (ITMOs), will help developed countries who fail to hit their national climate pledges meet their targets and in return provide climate finance to rainforest nations who have gone beyond their ambitions. A global stocktake of every country’s climate pledge will take place at COP28 in Dubai in December to gauge whether the planet is on course to slow the climate emergency. ITMOs will also be available for companies to purchase to hit net-zero targets, too. Earlier in the month, Suriname had its REDD+ results validated by the UN for 4.1 million emissions reductions in 2020 and a further 4.8 million in 2021. Its 2021 results will be eligible for sale as ITMOs. Marciano Dasai, Suriname’s minister of spatial planning and environment, said the country hopes to sell the credits for $30/tCO2e.

Like DRC, Honduras also signed an MOU with the CfRN to provide policy support and capacity-building within the UNFCCC REDD+ framework and to help it sell its UNFCCC REDD+ credits and ITMOs.

Throughout the week, CfRN spokespeople and ministers spoke at numerous events, including the World Biodiversity Summit, UNDP event and Environmental Finance’s Natural Capital Americas conference.