Asunción, Agencia IP.- With the recent implementation agreement signed with Singapore, Paraguay has taken a key step toward positioning itself in the global carbon credit market, with an estimated annual export potential of between USD 250 and 500 million, according to the Deputy Minister of Trade and Services, Rodrigo Maluff. The head of the Deputy […]
Asunción, Agencia IP.- With the recent implementation agreement signed with Singapore, Paraguay has taken a key step toward positioning itself in the global carbon credit market, with an estimated annual export potential of between USD 250 and 500 million, according to the Deputy Minister of Trade and Services, Rodrigo Maluff.
The head of the Deputy Ministry of Trade and Services stated that the country could capture around 5 million tons of carbon per year through its forestry projects. This amount translates into an equivalent volume of carbon credits with commercial value in international markets.
He emphasized that the agreement with Singapore opens access to a high-integrity market and, therefore, one with higher prices. This means that the carbon credits generated in Paraguay could be traded for up to USD 250 million annually. With the opening of new markets, that amount could double, Maluff explained.
He also noted that carbon credits represent a new export opportunity for the country, combining environmental sustainability with economic development.
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