The next chapter of climate finance is being written now – and host country readiness will determine who leads.

The Climate Action Center of Excellence (CACE), in partnership with Sylvera, is proud to launch a new report that sheds light on the critical factors shaping demand in the evolving market for Internationally Transferred Mitigation Outcomes (ITMOs) under Article 6 of the Paris Agreement.

As the world transitions from voluntary carbon markets to a compliance-grade system, countries face a fundamental challenge: how to signal genuine readiness to issue high-integrity credits—and secure the investment that follows.

What’s Inside

This report provides:

• A readiness assessment framework to evaluate the enabling environment for ITMO issuance
• Insights drawn from extensive government engagement and market intelligence
• Practical guidance for host countries, project developers, and buyers on navigating policy and investment risks

It also distinguishes substantive progress from surface-level signaling, helping stakeholders understand which countries are best positioned to attract results-based finance.

Whether you are a national government aiming to participate in Article 6 transactions, or a private buyer navigating where and how to invest, this report offers a roadmap to move forward with confidence.