The Convention is a world first, and is in line with the Paris Agreement.
This morning, the Government of Peru and the Swiss Confederation signed a bilateral agreement to reduce their greenhouse gas (GHG) emissions, in the framework of Article 6 of the Paris Agreement. The agreement will promote the funding of national projects for low-carbon technologies and practices.
The agreement was signed by the Minister of the Environment, Kirla Echegaray, and the Swiss Ambassador to Peru, Markus-Alexander Antonietti, who represented the Minister of the Environment, Transport, Energy and Communication of the Swiss Confederation, Simonetta Sommaruga.
The Minister of the Environment, Kirla Echegaray, spoke about this historic agreement, highlighting that it allows both countries to join forces in tackling climate change. “The signing of this agreement is a clear example of how cooperation between countries can facilitate the fulfilment of our climate goals and, at the same time, bring prosperity and well-being to our citizens,” she said.
The minister emphasized the two-year dialogue between the Ministry of the Environment and the Swiss Federal Office of the Environment to make this innovative form of cooperation a reality. “This agreement is an international example of how to take forward the carbon-market approaches proposed by the Paris Agreement and facilitate their implementation for sustainable development,” she said.
The Minister of the Environment, Transport, Energy and Communication of the Swiss Confederation, Simonetta Sommaruga, underlined the contribution this agreement will make to the climate emergency. “We can all feel proud of this agreement because it will contribute to sustainable development in Peru, enable us to fulfil our Paris Agreement commitments and raise our climate ambition”.
The bilateral agreement is the first in the world to be signed in the framework of Article 6 of the Paris Agreement. It is a milestone and bears witness to the enormous importance that both countries attach to preserving the environment and tackling climate change.
The agreement will promote the financing of national projects that use technologies and practices with low GHG emissions, including renewable energies, improved cooking stoves, landfills and rural electrification, permitting the transfer of greenhouse gas emission reductions between both countries.
In this way, the country making the transfer receives payment for transferring a certain amount of mitigation results, while the recipient can make use of those results as part of compliance with its Nationally Determined Contribution (NDC).
Article 6 of the Paris Agreement aims at promoting integrated, holistic and balanced approaches that will assist governments in implementing their NDCs through voluntary international cooperation. This cooperation mechanism will make it easier to achieve carbon emission reduction targets and raise climate ambition.
Source: Ministry of the Environment