Peru

“Vol­un­tary cooper­a­tion under the Art­icle 6 of the Par­is Agree­ment: Peru plans to par­ti­cip­ate in cooper­at­ive approaches of the Par­is Agree­ment. To do this, it is pre­par­ing the con­di­tions neces­sary domest­ic ser­vices, such as insti­tu­tion­al arrange­ments them, reg­u­la­tions and pro­ced­ures, which, once applied, con­trib­ute to increas­ing the ambi­tion of our NDCs, pro­mote sus­tain­able devel­op­ment and guar­an­tee the integ­ra­tion envir­on­ment­al qual­ity. In that sense, a count must be applied robust and trans­par­ent capa­city that ensures the absence of double counting.”

[machine trans­lated] In accord­ance with its 2020 Nation­ally Determ­ined Con­tri­bu­tion (NDC), Peru reaf­firms its com­mit­ment to vol­un­tary cooper­a­tion under Art­icle 6 of the Par­is Agreement.

This com­mit­ment is form­al­ized with the pub­lic­a­tion of Supreme Decree No. 010‑2024-MIN­AM in Novem­ber 2024, which approves the pro­vi­sions for the oper­a­tion of the Nation­al Registry of Mit­ig­a­tion Meas­ures (RENAMI). RENAMI is the Per­uvi­an State’s primary tool for mon­it­or­ing the actions included in the NDC and pro­jects linked to the car­bon mar­ket, ensur­ing envir­on­ment­al integ­rity and trans­par­ency in GHG mit­ig­a­tion results.

With this reg­u­la­tion, Peru estab­lishes the neces­sary insti­tu­tion­al arrange­ments for the author­iz­a­tion and mon­it­or­ing of Inter­na­tion­al Trans­fer Mit­ig­a­tion Res­ults (ITMOs), in com­pli­ance with the pro­vi­sions of Art­icle 6 of the Par­is Agreement.

With the aim of stra­tegic­ally guid­ing part of the cli­mate fin­ance for Art­icle 6, the RENAMI reg­u­la­tions empower sec­tor­al author­it­ies to approve a guideline list of pri­or­ity activ­it­ies in the car­bon mar­ket (Elev­enth Final Com­ple­ment­ary Pro­vi­sion). Cur­rently, the Car­bon Mar­kets Work­ing Group of the High-Level Com­mis­sion on Cli­mate Change is devel­op­ing con­sensus cri­ter­ia that will allow sec­tor­al author­it­ies to identi­fy the types of activ­it­ies cor­res­pond­ing to each sec­tor, for sub­sequent pub­lic­a­tion in a guideline list.

Peru recog­nizes that the car­bon mar­ket can enhance nation­al com­pet­it­ive­ness and pro­ductiv­ity by mobil­iz­ing fin­an­cial resources, trans­fer­ring know­ledge, and incor­por­at­ing sus­tain­able tech­no­lo­gies in key sec­tors such as energy effi­ciency in industry and com­merce, sus­tain­able eco­sys­tem man­age­ment, the cir­cu­lar eco­nomy, fam­ily farm­ing, and clean trans­port­a­tion, among others.