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.