Switzerland and Thailand have completed the first-ever transfer of Article 6.2 carbon credits under the Paris Agreement. These Internationally Transferable Mitigation Outcomes (ITMOs) were purchased by the KliK Foundation from the Thai company Energy Absolute Public Co. Ltd. for the Bangkok E-Bus Program. The credits are based on CO2 reductions from converting the Bangkok Metropolitan Area's private operators' fleet from internal combustion engines to electric vehicles. Switzerland will use these credits to fulfill its obligations under the Swiss CO2Act, contributing towards its Paris Agreement targets, while Thailand commits to adjusting its greenhouse gas inventory to avoid double counting. Article 6.2 allows countries to use emission reductions domestically or sell them to others for their National Determined Contributions.

Source: Carbonherald