ClimeFi Structures First ITMO CDR Transfer Between Switzerland & Norway - CleanTechnica

The article reports the first-ever cross-border transfer of Internationally Transferred Mitigation Outcomes (ITMOs) under Article 6.2 of the Paris Agreement, marking a significant milestone in the durable carbon removal (CDR) market. This transaction involves the transfer of verified CDR credits generated from biomass-based carbon removal with permanent geological storage in Norway to a coalition of Swiss corporate buyers. The deal was coordinated by ClimeFi and formalized during a signing ceremony in Norway on June 17, 2025. Unlike traditional carbon offsets, this transfer operates within a government-recognized bilateral framework, ensuring enhanced credibility, transparency, and international accountability. Swiss Environment Minister Albert Rösti emphasized the importance of CO2 storage technology in Switzerland’s path to net-zero emissions, highlighting the agreement’s role in fostering innovation and strengthening bilateral ties. ClimeFi’s CEO Paolo Piffaretti noted the initiative as a pioneering example of public-private partnership, demonstrating how sovereign oversight, commercial structuring, and private