MAATE-2023-053 - Technical Standard establishing the Greenhouse Gas Emissions Compensation Scheme of Ecuador

Ministerial Agreement MAATE-2023-053 establishes a national greenhouse gas emissions compensation scheme in Ecuador, regulating voluntary mitigation initiatives that allow the reduction and/or removal of GHG emissions. It defines criteria to validate and verify these initiatives, establishes a National Compensation Registry and a Portfolio of eligible initiatives, and implements mechanisms to economically compensate those who develop emission reduction projects. The standard promotes carbon neutrality for both organizations and products, and includes environmental and social safeguards that ensure the integrity of the initiatives.