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Taiwan, Paraguay sign carbon credit MOU

A memorandum of understanding on carbon credit cooperation was concluded by Taiwan’s Ministry of Environment and the Ministry of Environment and Sustainable Development of Paraguay Oct. 1 in Taipei City.   According to the Ministry of Foreign Affairs, the pact was signed by MOENV Minister Peng Chi-ming and his Paraguayan counterpart Rolando de Barros Barreto, with Vice Foreign Minister Ger Bau-shuan and other representatives from both sides as witnesses to the beginning of a new chapter in the bilateral partnership.   The MOFA said the pact underscores the allies’ commitment to promoting the green economy, industrial upgrades and net-zero emissions, as well as their support for the Paris Agreement and U.N. Framework Convention on Climate Change.   Under the agreement the two sides will expand cooperation in areas such as capacity building, carbon credit regulations, governance framework and talent cultivation, the ministry said, adding that the pact is also in line with the government’s integrated diplomacy policy.   The MOENV said the forests and land in Paraguay are potential sources of carbon credits and the core of the ally’s carbon reduction strategies, which aim to reduce its greenhouse gas emissions by 10 to 20 percent by 2030.   Peng said Taiwan and Paraguay possess complementary advantages in promoting carbon emission reduction, while Barreto described Taiwan as a reliable technical partner and looked forward to expanded cooperation.   The agreement follows the successful visit to Paraguay in March of a delegation organized by the MOENV and MOFA, the MOENV said, adding that it is the first of its kind between Taiwan and an ally. (SFC-E)   Write to Taiwan Today at ttonline@mofa.gov.tw