Mobilising Investment for NDC Implementation (MI), supported by the German Government’s International Climate Initiative (IKI), was launched by CDKN, SouthSouthNorth and LEDS-GP in 2017. The project works with seven partner countries around the world, namely Bangladesh, Ethiopia, Kenya, Peru, Dominican Republic, Philippines and Vietnam, to accelerate public and private investment in priority NDC sectors and markets.
In Peru, PwC UK and PwC Peru deliver the project, working with the Ministry of Environment (MINAM).
Peru is a rapidly developing country that is home to almost 740, 000 square kilometres of forest area, including the largest section of the Amazon after Brazil. While Peru currently only contributes 0.2% of global greenhouse gas (GHG) emissions, the government has committed to reducing national emissions by 20% below business-as-usual (BAU) by 2030 (or by 30% conditional on international support). To achieve Peru’s NDC mitigation targets by 2030, the involvement of the private sector is crucial, especially to implement the targets that are subject to the provision of financial resources.
The government of Peru has developed Nationally Appropriate Mitigation Actions (NAMAs) for various sectors, which provide a comprehensive analysis of areas for potential investment. Using the NAMAs as a starting point, the project team worked closely with Peru’s Ministry of Environment (MINAM) to identify which sector held the greatest potential for private sector investment. Given the lack of private sector involvement in the waste sector in Peru, and an urgent need to address the issue of unsustainable waste management, it was decided that this would be the focus sector of the MI project in Peru.
Given the lack of private sector involvement in the waste sector in Peru, and an urgent need to address the issue of unsustainable waste management, it was decided that this would be the focus sector.
The MI team has been working with MINAM to identify opportunities to mobilise private sector investment for projects delivering sanitary landfills that provide both adequate facilities for the final disposal of waste, and emissions reductions within the waste sector in Peru. This is being done through:
Photo Credit for display image (far right): google.com/maps