Introduction
The Climate Action Center of Excellence (CACE), an initiative by the Gulf Organisation for Research & Development (GORD), plays a pivotal role in facilitating the international carbon market under Article 6 of the Paris Agreement. CACE’s Internationally Transferred Mitigation Outcomes (ITMO) auctions are essential for enabling transparent and efficient carbon credit transfers between countries, thereby supporting global climate goals.
CACE’s ITMO auctions set high standards for Article 6 implementation, supporting global climate action and sustainable development. With a rolling application process for both buyers and sellers, projects are invited to apply at any time. As the market evolves, CACE continues to innovate to meet the changing needs of the international community in combating climate change.

ITMO Auctions Objectives
ITMO Auctions Process
CACE, in collaboration with Emsurge, a leading technology platform, conducts periodic ITMO auctions, providing a reliable marketplace for buying and selling spot and forward ITMOs. The process involves:
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Vetting
All participating projects undergo rigorous vetting to ensure compliance with Article 6 guidelines and country readiness.
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Auctioning
Periodic auctions are held where future ITMOs are listed and made available to the highest bidders, ensuring efficient price discovery and market liquidity.
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Settlement and Reporting
Post-auction, the partnerships with exchanges facilitate optional faster settlement processes between buyers and sellers.
Current Scope and Future Plans
Geographical Focus
The initial ITMO auctions primarily involve projects in Africa that adhere to major international standards. However, the service is available to all projects with legitimate and meaningful Letters of Authorization.
Sectoral Focus
The focus is on sectors such as energy demand and renewable energy, with an increasing emphasis on innovative technologies.
Capacity Building
CACE is committed to building the capacity of host countries to create an enabling environment for the implementation of Article 6 projects, ensuring broad and inclusive market participation.