Share this on social media
Peru and Switzerland sign ‘world first’ carbon offset deal under Paris Agreement
(Climate Home News, 21 Oct 2020) Switzerland has struck a carbon offsetting agreement with Peru, in what the two nations say is the first deal of its kind under Article 6 of the Paris agreement.
While negotiators at UN climate talks have yet to overcome deep divisions on the design of a global carbon market, a framework is in place for countries to strike bilateral deals.
The deal signed on Tuesday allows Peru to fund sustainable development projects, while Switzerland gets to count the resulting emissions cuts against its national targets.
Peru’s environment minister Kirla Echegarry said the deal took two years to negotiate and was “an example of how cooperation between countries can facilitate the fulfillment of our climate goals and —at the same time— bring prosperity as well as well-being for our citizens.”
Climate Home News, 21 Oct 2020: Peru and Switzerland sign ‘world first’ carbon offset deal under Paris Agreement
