Peru and the Swiss Confederation on Tuesday signed a bilateral agreement to reduce their greenhouse gas (GHG) emissions —within the framework of Article 6 of the Paris Agreement
— and promote the financing of national projects that implement low-carbon technologies and practices.
At the signing ceremony, the Peruvian minister highlighted the historic agreement, which enables both countries to join forces in the face of climate change.
"The signing of this agreement is 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," she underlined.
Likewise, Echegaray highlighted the two-year dialogue process between Peru's Ministry of Environment and the Swiss Federal Office for the Environment in a bid to make this innovative instrument of cooperation a reality.
"This agreement constitutes an example —at the international level— of how to fulfill the carbon market-based approaches proposed in the Paris Agreement and, thus, facilitate their implementation in favor of sustainable development," she said.
For her part, Ms. Sommaruga highlighted the agreement's contribution to addressing the climate emergency.
"Everyone can be proud of this agreement because it will contribute to sustainable development in Peru. It will allow us to implement our commitments under the Paris Agreement and increase our climate ambition," she stated.