In the first deal of its kind under the Paris Agreement, the Swiss government has approved an agreement that establishes a framework for some of Switzerland’s CO2 emissions to be offset through projects in Peru.This content was published on October 14, 2020 - 18:04
“Switzerland is playing a pioneering role internationally and setting a standard for international climate projects that meet stringent environmental protection requirements, while also respecting international standards for the protection of human rights,” the government said in a statement on Wednesday.
By ratifying the Paris Agreement, Switzerland has committed to reducing greenhouse gas emissions by 50% compared to 1990 by 2030. It aims to meet this target primarily through domestic measures, but the Paris Agreement also allows states to offset their own emissions through climate projects in other countries. They can count the emission reductions achieved in those countries as credits towards their national reduction target.
The agreement between Switzerland and Peru marks the first time two states have agreed on the practical implementation of these market mechanisms under Article 6 of the Paris Agreement.
Environment Minister Simonetta Sommaruga and Peruvian counterpart Kirla Echegaray Alfaro will sign the agreement during a video conference on October 20. It still has to be approved by parliament.