Honduras, Korea Forge Climate Partnership Under Paris Agreement

TEGUCIGALPA/SEOUL, January 24, 2025 – Honduras and South Korea have formalised a five-year bilateral cooperation agreement aimed at implementing Articles 5 and 6 of the Paris Agreement, advancing both nations’ commitments to global climate action.

Signed by the Korea Forest Service (KFS) and Honduras’ Secretariat of Natural Resources and National Institute of Forest Conservation and Development, the partnership focuses on capacity building, knowledge exchange, and best practices in managing greenhouse gas mitigation activities. It also includes corresponding adjustments, mitigation outcome transfers, and carbon market development in line with CMA guidance.

Honduras’ Minister of Environment Lucky Medina underscored the significance of the collaboration, “As a rainforest nation, our goal is to implement a UN-compliant carbon market for the forestry sector under Article 5.2 and fulfil all Article 6.2 requirements, as recently regulated at COP29 in Baku. These national partnerships are critical to ensuring the environmental integrity of new UN carbon markets under Article 6.”

Honduras has already met Article 5 REDD+ requirements, voluntarily reporting its Forest Reference Emission Level (FREL) and tracking emission reductions from deforestation, forest degradation, and sustainable forest management. The country’s Biennial Update Report includes REDD+ results for 2021, 2022, and 2023, which are now eligible for transaction as Internationally Transferred Mitigation Outcomes (ITMOs) under Article 6.

The Coalition for Rainforest Nations, a US-based non-profit, has supported Honduras in capacity building and institutional frameworks for ITMO development, while ITMO Ltd will assist with the sale of Honduras’ ITMOs.

The agreement will commence with pre-feasibility and feasibility studies for a UN REDD+ Programme under Article 6, with potential for renewal after five years.