Peru to promote investments in reforestation and carbon credits
The Government will promote private investment in reforestation and forest maintenance, thereby harnessing Peru’s potential in the global carbon credit market.
Similarly, it will develop a regulatory framework to facilitate and foster sustainable investment, mainly in the Amazonia.
To this end, Minister Jose Salardi (Economy and Finance) met with his peers Angel Manero (Agrarian Development and Irrigation) and Juan Carlos Castro (Environment) to assess the country’s potential in the issuance of carbon credits.
Also present at the meeting were representatives from Imperative company, who highlighted Peru’s ability to capitalize on its natural resources and become the hub of the carbon credit market, with potential transactions amounting to US$20 billion.
“These investors have told us that Peru ranks in the Top 5 among the most attractive countries for this type of investment and has the potential to compete globally,” Salardi stated.
“To achieve this, Peru needs a solid regulatory framework and legal certainty — and that is what we are going to work on,” he added.
The advantages for Peru in the carbon credit market are environmental, economic, social, and community-related, as well as political and governance benefits, with effects expected in the short and medium term.
Willingness to invest
During the meeting, Imperative company executives stated that they are willing to invest US$750 million in reforestation and forest maintenance through the carbon credit market, although the amount could be higher, as there is growing interest from additional private investors to come to Peru.
As is known, companies use carbon credits as part of their strategy to meet sustainability goals and reduce their carbon footprint.
By purchasing carbon credits, companies can offset the emissions generated by their activities.
These credits provide a way to finance environmental projects that generate global benefits, promoting the fight against climate change and green growth.
Read more @andina
