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Apr 11

Paris Agreement Switzerland

Ghana`s President Nana Addo Dankwa Akufo-Addo`s statement called on the private sector of both countries to “consider this bilateral cooperation as a step towards strengthening cooperation between Swiss and Ghanaian companies to identify economically viable and sustainable development projects over the next decade.” Shirley Ayorkor Botchway, Minister of Foreign Affairs, addressed and thanked Professor Kwabena Frimpong-Boateng, Minister of Environment, Science, Technology and Innovation, and UNDP for facilitating the agreement process. In October 2020, Switzerland and Peru signed an issue loan agreement in which Switzerland will finance emission reduction projects to contribute to sustainable development in Peru, while emission reductions for Swiss NDCs would count. To ensure the integrity of the environment, Peru and Switzerland should apply robust accounting systems so that reductions are accounted for only once. In accordance with Article 6 of the Paris Agreement, the rules and prudential rules governing these transfers have not yet been decided. He said the Swiss government was in talks with several other countries that could sign a similar agreement with Peru. “The next in the series” he said he was Ghana and discussions are underway with Senegal, Morocco, Thailand, Mexico, Chile and Argentina. “But these processes are not always easy,” he warned. Environment Minister Simonetta Sommaruga and her Peruvian counterpart Kirla Echegaray Alfaro will sign the agreement in a video conference on October 20. It still needs to be approved by Parliament. Switzerland has reached an agreement with Peru on the compensation of CO2 emissions, which, according to both nations, is the first such agreement under Article 6 of the Paris Agreement. UNDP Administrator Achim Steiner said: “We are proud to facilitate dialogue between Switzerland and Ghana, build confidence in the process on both sides and offer technical assistance to its implementation. We hope that this bilateral agreement will enable Ghana`s National Clean Energy Access Program (NCEP) to achieve its goals by reducing greenhouse gas emissions by up to 2 million tonnes, enabling millions of people to access energy and turning to a green recovery.¬†Gilles Dufrasne, policy officer at Carbon Market Watch, said the agreement had “several good elements” and established principles that “could provide a basis for the ongoing Article 6 negotiations.” The partnership will stimulate private sector investment in Ghana`s national energy access program (NCEP) and complement Ghana`s national contributions to the Paris Agreement.

NCEP will benefit up to five million homes through technologies such as improved stoves and solar photovoltaic installations. Ghana is also considering other projects under the agreement. The agreement gives the Swiss government the option of transferring retirement rights from compensation to local government or private companies based in Switzerland. This agreement will open the doors to commercial projects and allow national companies to promote the fight against climate change.