Countries:
Peru
Status:
Completed
Sector:
Finance
Working with key national public and private actors in Peru to develop a capital raising strategy, supporting the achievement of Peru’s Nationally Determined Contribution (NDC).
To support the scale-up in capital needed to achieve the goals of the Paris Agreement, more granular information is needed on national investment opportunities and the role of public and private investors. The private sector, in particular, has a critical role to play to mobilise the necessary investments.
This project aimed to increase national capacity and mobilisation of private climate investment by developing a Private Capital Raising Strategy (CRS) for Peru. This would scale private climate-related investments and support the implementation of Peru’s NDC.
This project:
By supporting the alignment of capital with national climate priorities in the crucial response and recovery periods to COVID-19, this project helped public actors in guiding capital towards a green recovery pathway.
This project was delivered in partnership with GGGI.
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Beneficiary Title
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Beneficiary Title
among local stakeholders in Peru, including the Ministry of Environment's mitigation and adaptation experts, GESI experts, and local financial institutions (e.g. PROFONANPE, COFIDE)
Sizing of key investment opportunities, covering all seven sectors in Peru’s NDC, and identification of 24 mitigation and adaptation opportunities
report outlining recommendations for the public and private sectors to mobilise capital needed to meet the country’s NDC ambition
through a series of workshops on the investment opportunities and financing barriers
The project's flagship CRS report supported the scaling up of private climate investment in Peru through:
Additionally, the project has supported MINAM in its capacity to apply the CRS and to develop subsequent plans and actions to implement opportunities presented in the CRS.
Finally, the project included a series of workshops and public-private engagement sessions. These successfully embedded technical knowledge among public and private actors, helping them to understand potential financial sector reforms and other activities needed to promote capital raising for climate action, and therefore help drive climate investment.
and understanding of the needs and barriers faced by women and vulnerable groups in accessing finance
by systematically integrating GESI considerations into NDC planning
between policymakers and GESI representatives around NDC investments
for integrating GESI across NDC planning and climate investment strategy, across geographies
This project supported vulnerable populations in two complementary ways.
Firstly, the CSR report increased awareness and understanding of the need to bring in the private sector to support climate investment, to a granularity that identified vulnerable agents that need to be further supported.
Secondly, the project directly supported conversations around NDC investments where GESI counterparts were included, encouraging more reflection and integration of GESI considerations into NDC planning. This meant a focus on vulnerable communities could be incorporated into the discussion.
There is potential for the framework developed by the project to be replicated across other geographies, thus generating positive impact in several ways, including:
While tangible changes will take some time to materialise due to the nature of the key project’s output, the CRS report outlines a set of recommendations on strategies to support a range of key actors in scaling up private climate investment in Peru.
For example:
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UK PACT (Partnering for Accelerated Climate Transitions) is a unique capacity-building programme. Jointly governed and funded by the UK Government’s Foreign, Commonwealth and Development Office (FCDO) and the Department for Energy Security and Net Zero (DESNZ) through the UK's International Climate Finance, it works in partnership with countries with high emissions reduction potential to support them to implement and increase their ambitions for tackling climate change.
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