Taiwan's Minister of Environment Chi-Ming Peng (second from right) and Paraguay's Minister of Environment and Sustainable Development Rolando de Barros Barreto (third from right) sign the "Memorandum of Understanding under the Paris Agreement."
Minister of Environment Chi-Ming Peng and Minister Rolando de Barros Barreto of Paraguay's Ministry of Environment and Sustainable Development on Oct. 1, under the witness of Vice Minister of Foreign Affairs Baushuan Ger, jointly signed the "Memorandum of Understanding on Cooperation under the Paris Agreement" at the Taiwan's Ministry of Environment (MOENV).
This marks Taiwan's first MOU with a diplomatically on carbon credit cooperation under the Paris Agreement framework, paving the way for joint carbon reduction and technology collaboration to advance the achievement of Taiwan's Nationally Determined Contributions (NDCs).
The MOENV stated that in Paraguay, forest and land-use management represent both the primary source of greenhouse gas emissions and a potential carbon sink, making them the country's core strategy for carbon reduction. In its updated 2021 Nationally Determined Contributions (NDCs), Paraguay outlined measures including forest conservation, restoration, and afforestation; improved livestock management; enhanced soil management; increased energy efficiency; promotion of electric vehicles; and the development of a robust and transparent carbon market aligned with international conventions.
These initiatives aim to reduce greenhouse gas emissions by 10–20% by 2030. Earlier in March, the MOENV and the Ministry of Foreign Affairs (MOFA) conducted an on-site visit and exchange in Paraguay. Building upon this foundation, the newly signed MOU establishes cooperation under Article 6 of the Paris Agreement, with the goal of advancing both countries' NDC implementation and strengthening mitigation and adaptation actions. Areas of cooperation will include information sharing on carbon market development, non-market approaches, as well as knowledge, best practices, and experience exchange.
Group photo of distinguished guests witnessing the signing of the "Memorandum of Understanding under the Paris Agreement" between Taiwan and Paraguay.
The event also invited 17 enterprises, including members of the Green Growth Alliance, along with the Taiwan Carbon Solution Exchange, and relevant departments from both the MOFA and the MOENV, to engage in discussions on bilateral environmental governance issues. In his remarks, Minister Peng highlighted that Taiwan launched its NDC 3.0 last year, setting an emissions reduction target of 28% (±2%) by 2030, with a further increase to 38% (±2%) by 2035, underscoring opportunities for joint achievement with international partners.
Minister Barreto noted Paraguay's natural advantage in renewable energy and its established regulatory framework in line with the Paris Agreement, which makes bilateral cooperation highly complementary. He further emphasized that Taiwan is a steadfast partner in technological collaboration, and by integrating Taiwan's innovation with Paraguay's abundant natural resources, the two sides can deepen cooperation in carbon market mechanisms, ecosystem services, circular economy initiatives, and sustainability education. Both parties reached a strong consensus that their partnership, grounded in the practical cooperation framework of the Paris Agreement, will foster bilateral industrial green growth.
The MOENV noted that today's MOU represents a cooperation agreement spanning over 20,000 kilometers between two nations situated at antipodes of the globe. Beyond underscoring the shared determination of Taiwan and Paraguay to advance climate governance, the MOU also carries symbolic significance in ushering in a new chapter for the two countries' strong diplomatic ties and climate partnership.
This article was originally published on EnergyOMNI. Read the original article.
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