In October 2024, GGGI launched the Carbon Transaction Facility, a first-of-its-kind facility which offers a comprehensive solution to scaling up international carbon trading under Article 6 of the Paris Agreement. Through the CTF, GGGI will extend its Article 6 activities through a collection of single and multi-donor funds aimed at increasing host country readiness and facilitating transactions of Internationally Transferred Mitigation Outcomes (ITMOs). The CTF aims to catalyze up to USD 500 million solely for ITMOs purchasing by 2030. The multi-donor fund, named the Article 6 Readiness Facility, will mobilize up to USD 50 million for readiness support activities to GGGI Member States and Partner Countries. The Readiness Facility will allow GGGI to more than double the scale of its support for capacity building, technical assistance, institutional strengthening and international knowledge exchange activities in its Member States and partner counties. At the same time a pipeline ...