Suriname Launches World's First Sovereign Carbon Credits

Suriname, in partnership with ITMO Ltd and BancTrust Investment Bank Limited, launched the world's first sovereign carbon credits verified under the Paris Agreement's Article 6.

The official launch occurred at the London Stock Exchange Climate Investment Summit.  

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It represents the inaugural carbon credit from the new carbon markets established by the Paris Agreement.  

These markets enable countries to issue and trade their national carbon allocations with other nations and private sectors. 

The credits, representing 1.5 million metric tons of CO2 equivalent, are derived from the conservation of Suriname's rainforests. 

It has undergone a thorough three-year verification process with the United Nations Framework Convention on Climate Change (UNFCCC) 

The verified and validated UNFCCC REDD+ sovereign carbon credits, offered at national and international levels, signify more than just carbon tons, they also contribute to biodiversity conservation, supporting all 17 of Suriname's Sustainable Development Goals (SDGs) and aligning with the country’s Nationally Determined Contributions (NDCs). 

It is also a highly scalable solution that aligns with the Paris Agreement to help meet the 1.5c target and is the second most impactful climate mitigation solution according to the IPCC, 

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 95% of the profits generated from these credits will be allocated back to Suriname, benefiting local and indigenous communities.  

As the growing number of businesses and nations strive to achieve their net zero targets by 2030 and 2050 by reducing and offsetting carbon emissions, the need for carbon credits that meet the requirements of the Paris Agreement is also increasing.