Verra has signed a Memorandum of Understanding (MOU) with the Ministry of Environment and Sustainable Development of the Republic of Paraguay (MADES) to implement capacity-building and knowledge-sharing activities that facilitate the development of carbon projects in the country and enable these projects to participate in international carbon markets. The engagement of local projects in these markets will help drive necessary finance to these projects and will also support Paraguay in achieving its Nationally Determined Contributions (NDCs) under the Paris Agreement.
The capacity-building and knowledge-sharing activities will take the form of courses, workshops, and specialized seminars for current and potential project proponents, validation/verification bodies (VVBs), government officials, as well as buyers and investors, among others. Topics covered include the process of certifying a project with the Verified Carbon Standard (VCS) Program, using the Verra Registry, and an overview of VCS Program methodologies, particularly those related to nature-based approaches such as agricultural land management and forest conservation.
The capacity-building opportunities will also cover topics related to Article 6 of the Paris Agreement, such as information on Article 6 labels for carbon credits and Verra’s work to develop an Article 6.2 carbon crediting protocol. Such a protocol would support countries in their use of Article 6 to achieve their Nationally Determined Contributions (NDCs) and sustainable development goals.