MEMORANDUM OF UNDERSTANDING BETWEEN THE DEPARTMENT OF ENVIRONMENT AND NATURAL RESOURCES OF THE REPUBLIC OF THE PHILIPPINES AND THE MINISTRY OF TRADE AND INDUSTRY OF THE REPUBLIC…

The Department of Environment and Natural Resources of the Republic of the Philippines and the Ministry of Trade and Industry of the Republic of Singapore (hereinafter referred to collectively as the “Participants” and individually as a “Participant”);

RECOGNIZING the mutual benefit of enhancing their relationship;

RECALLING the Paris Agreement and in particular, Article 6 of the Paris Agreement and the Guidance on cooperative approaches referred to in Article 6, paragraph 2, of the Paris Agreement and Article 13 of the Paris Agreement on the enhanced transparency framework;

ACKNOWLEDGING that cooperation under Article 6 of the Paris Agreement can raise global ambition in line with the Paris Agreement goals, and can generate sustainable development benefits;

TAKING INTO ACCOUNT that each Participant will comply with the requirements defined by the Conference of the Parties serving as the meeting of the Parties to the Paris Agreement (hereinafter referred to as “CMA”) under Article 6 of the Paris Agreement;

RECOGNIZING that the Participants may choose to pursue voluntary cooperation in the implementation of their nationally determined contributions to allow for higher ambition in their mitigation and adaption actions and to promote sustainable development and environmental integrity; and

AFFIRMING the importance of long-term cooperation for the further development of friendly relations between the Participants;

HAVE REACHED the following understanding:

PARAGRAPH 1
OBJECTIVE
This Memorandum of Understanding (hereinafter referred to as “MOU”) expresses the understanding and intentions of the Participants to collaborate on carbon credits within the framework of Article 6, paragraph 2 of the Paris Agreement.

PARAGRAPH 2
AREAS OF COOPERATION

1. The Participants understand that their cooperation may include but is not limited to the exchange of information, knowledge, best-practices and experiences on carbon credits such as national regulatory frameworks, and policies governing the management and development of greenhouse gas mitigation activities and resources.
2. To facilitate future collaborations on Article 6 of the Paris Agreement-aligned projects of mutual benefit and interest, the Participants will endeavour towards the formulation and signing of a legally binding Implementation Agreement that sets out a bilateral framework for the authorization and transfer of internationally transferred mitigation outcomes (hereinafter referred to as “ITMOS”) under which mitigation activities can be implemented, that are consistent with decisions of the CMA. The framework may include modalities and procedures for authorizing activities under the Implementation Agreement, for verification of the achieved mitigation outcomes as well as for the creation, authorization and transfer of ITMOs as defined in decisions of the CMA.
3. The Participants acknowledge that such cooperation under the Implementation Agreement referred to at Paragraph 2(2) will operationalize the provisions of the Paris Agreement and its rule book, including the application of corresponding adjustments to avoid double counting of ITMOs, as well as future decisions of the CMA.
4. The Participants will identify potential mitigation activities under the Implementation Agreement referred to in Paragraph 2(2), and endeavour to formulate action plans to institute the necessary infrastructure and capabilities to enable such activities.

PARAGRAPH 3
CONFIDENTIALITY

1. All information which are obtained or received by a Participant from the other Participant in connection with this MOU (hereinafter referred to as “confidential information”), regardless of whether such information is specifically marked as confidential, shall be held in confidence and shall be used exclusively for the purpose for which it was disclosed. The Participants shall take all reasonable measures to ensure that confidential information is protected against loss and against unauthorized access, and that only authorized personnel have access to confidential information.
2. The Participants shall not disclose confidential information to any third party, unless:

   1. The disclosure is to a Participant’s respective officials’ relevant stakeholders, including other government agencies, industry, academia and public-private initiatives for the purposes of implementing this MOU or any cooperation project, program or activity as may be initiated or undertaken thereunder; or
   2. The Participant has obtained prior written approval for such disclosure from the other Participant which has provided the confidential information, including where disclosure is required by the national law or competent authorities of the first Participant.

3. The provisions of this Paragraph shall remain in effect, notwithstanding the expiration or termination of this MOU.

PARAGRAPH 4
MEETINGS AND WORK PLANS

1. To plan and implement their cooperative activities, the Participants will jointly develop annual work plans, including objectives, deliverables, expected outcomes, and time frames. A schedule of the work plan is set out in the Annex to this MOU.
2. The Participants will meet annually in-person or by electronic methods of communication to review progress and to define elements of future work plan.

PARAGRAPH 5
LEGAL EFFECT

1. Nothing in this MOU creates, or is intended to create, any legally enforceable rights or impose any legally binding obligations on the Participants under domestic or international law.
2. Nothing in this MOU is intended to restrict the Participants’ ability to cooperate with each other or with any third parties.
3. Any difference or disagreement arising out of or in connection with the interpretation or implementation of this MOU shall be resolved amicably by consultation between the Participants through diplomatic channels.
4. The Participants intend for activities under this MOU to be conducted in accordance with their respective domestic laws and regulations.

PARAGRAPH 6
FINANCING
This MOU does not impose financial obligations on either Participant to the other Participant. Each Participant will bear its own costs and expenses associated with the implementation of this MOU.

PARAGRAPH 7
DURATION, AMENDMENT AND TERMINATION

1. This MOU shall come into effect on the date of signature by the Participants and shall remain in effect for a period of three (3) years. The Participants may extend the MOU upon their mutual written consent, through diplomatic channels.
2. The Participants may amend this MOU upon their mutual written consent, through diplomatic channels.
3. Either Participants may terminate this MOU by providing a six (6) month written notice to the other Participant, through diplomatic channels.
4. The termination of this MOU shall not affect any cooperative activity under this MOU which is in progress at the time of termination unless they jointly decide otherwise in writing.

SIGNED in duplicate at Manila, Philippines this 15th day of August 2024, in the English language.   

 

FOR THE DEPARTMENT OF   ENVIRONMENT AND NATURAL   RESOURCES OF THE GOVERNMENT   OF THE REPUBLIC OF THE PHILIPPINES	FOR THE MINISTRY OF TRADE AND   INDUSTRY OF THE GOVERNMENT   OF THE REPUBLIC OF SINGAPORE
Sgd.   Maria Antonia Yulo Loyzaga   Secretary of Environment and   Natural Resources	Sgd.   Grace Fu   Minister for Sustainability and the   Environment and Minister-in-charge of Trade Relations

Entry into Force: August 15, 2024