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Carbon Market Opportunities in Peru

Carbon Market Opportunities in Peru. Eco. Julia Justo Soto Executive Director National Environmental Fund FONAM PERU. PERU. PERU is located in the South American Pacific. PERU has an area of 1,285,216 km2 and a total population of 28,220,764.

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Carbon Market Opportunities in Peru

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  1. Carbon Market Opportunities in Peru Eco. Julia Justo Soto Executive Director National Environmental Fund FONAM PERU

  2. PERU • PERU is located in the South American Pacific. • PERU has an area of 1,285,216 km2 and a total population of 28,220,764. • PERU is the third largest country in South America. • PERU is a mega-diverse country and strategically located in the center of South America on the planet's largest ocean. • PERU has the highest richness and biological variety. • PERU is the second country in area of natural forests. • PERU is a country with high potential of clean energy resources. Market trends & capacity development needs

  3. PERU - INVESTMENT OPORTUNITY Decrease of the Country Risk Increase of the GDP Source: JP Morgan EMBI Source: Instituto Nacional de Estadística e Informática

  4. PERU - INVESTMENT OPORTUNITY Exports Growing Investment Grade (*) Source: Instituto Nacional de Estadística e Informática (*) Until August 2008. Source: Fitch Ratings

  5. Market trends & capacity development needs National Environmental Fund – FONAM PERU • The National Environmental Fund - PERU (FONAM - PERU) was created by Congress Bill, but ruled under private law. FONAM is a non profit institution of public and social interests and belongs to the Ministry of the Environment sector. • FONAM has the objective of promote and support the financing of public and private investment associated to the Peruvian Environmental Policy.

  6. FONAM – Work Areas Sustainable Transport Environmental Services, Forest and Ecobusiness Mining Environmental Liabilities Sustainable Development Carbon Business Clean Energies: Energy Efficiency and Clean Production Water and Solid Waste Management Market trends & capacity development needs

  7. Market trends & capacity development needs Multilaterals: WB, IADB, CAD, EIB, UNDP, UNEP RISOE. Bilaterals: With different countries: GTZ, BMZ, KFW, JICA, Governments of France, Netherlands, Finland, Spain, USAID, Scotiabank, Santander Bank, Private enterprises, Mining companies and NGOs FINANCIAL RESOURCES & TECHNICAL ASSISTANCE APPLICATIONS • Support the process of fundraising and financing for environmental projects • Advice in the elaboration of environmental proposals. • Execute projects, promoting environmental and financial investments in: Climate change and CDM, Combat Desertification, Remediation of Mining Liabilities, Ecobusiness and Biodiversity.

  8. PERUVIAN CDM FRAMEWORK • Climate Change topics, specifically CDM are manage by two institutions: • Ministry of Environment – MINAM • National Environmental Fund - FONAM

  9. NATIONAL APPROVAL OF CDM PROJECTS IN PERU Ministry of Environment is the Designated National Authority (DNA) to approve and issue the Approval Letter of the Country. There is a ISO P-34 procedure for approval of CDM projects which deadline is 45 days. This procedure evaluates whether the CDM project contributes to “sustainable development of the country”. Until November 2008, 33 CDM projects have been approved by the Designated National Authority, MINAM: 19 Hydroelectric 1 Transmission Line 4 Biomass 3 Waste 4 Fuel Switching 1 Energy Efficiency 1 Afforestation

  10. NATIONAL APPROVAL OF CDM PROJECTS IN PERU

  11. NATIONAL APPROVAL OF CDM PROJECTS IN PERU

  12. NATIONAL APPROVAL OF CDM PROJECTS IN PERU

  13. THE NATIONAL ENVIRONMENTAL FUND – FONAM CDM PROMOTIONAL ENTITY IN PERU • 16 projects registered at the Executive Board. • 2 Peruvian projects requesting registration. • 10 Projects under Validation (1 forest). • 3 projects and CER's issued. • In 2008, at least 4 new projects will receive CERs and VERs. • 3 new projects in verification. • 1 Project Approved on methodology level. • 2 Peruvian methodologies elaborated. • Projects Peruvians must express interest in applying to the CDM at Executive Board, MINAM and FONAM before the start of the Project. Market trends & capacity development needs

  14. REGISTERED PERUVIAN PROJECTS AT THE CDM EXECUTIVE BOARD

  15. REGISTERED PERUVIAN PROJECTS AT THE CDM EXECUTIVE BOARD The 16 projects represents 1, 418, 455 tCO2e/year and Investments for more than US$ 400 millions.

  16. THE NATIONAL ENVIRONMENTAL FUND – FONAM CDM PROMOTIONAL ENTITY IN PERU • FONAM identifies eligible projects under the CDM. • FONAM trains and assist in the preparation of CDM projects, throughout the project cycle: • Prepares the initial document: Project Idea Note (PIN) and performs the analysis of eligibility of the project. • Assist in developing the Project Design Document (PDD), which includes the baseline study and monitoring plan. • Elaborates the file for the submission of the Project to the Designated National Authority (MINAM) to obtain the approval letter of the Host Country. • Informs the CDM project to the communities - stakeholders in the area of influence of the CDM project. • Advices the project developer in the Validation and Registration process at the CDM Executive Board. • Advices in the monitoring of emission reductions and verification process. Market trends & capacity development needs

  17. Market trends & capacity development needs FONAM is in charge of the promotion of CDM in Peru. FONAM prepares the National CDM Portfolio to promote Peruvian Projects in International Carbon Fairs. FONAM prepares the National Carbon Portfolio that includes CDM and REDD projects that can apply to the Voluntary Market. FONAM is the Focal Point in Peru of the Carbon Finance of the World Bank. FONAM is part of the steering committee of Host Countries of the Carbon Finance, and is observer of the Spain Carbon Fund – World Bank. FONAM support to remove barriers and elaborate proposal for develop a adequate legal framework for promotion and implementation of CDM projects. FONAM support projects which promotes synergies between the three United Nations environmental conventions: UNFCC, UNCCD and CBD. THE NATIONAL ENVIRONMENTAL FUND – FONAM CDM PROMOTIONAL ENTITY IN PERU

  18. FONAM has developed capacities in the country, business groups of private - public sector and national financial system, capacities in the country through national and international seminars, where more than 10,000 participants in the carbon market were trained, not only from Peru but also from other Latin-American and Caribbean countries. For the year 2008 have been identified a total of 126 projects: 94 projects in the energy sector, 29 Forest Sector Projects and 3 REDD. This 126 CDM projects represent 15 MM tons of CO2 and US$ 6300 MM on investments. Also a network of private and public stakeholders were identified nation wide: developers, enterprises, consultants, banks and universities, consolidating the carbon market in Peru. FONAM AND PROGRESS OF CDM IN PERU

  19. CDM PROJECT PORTFOLIO – ENERGY SECTOR

  20. CDM PROJECT PORTFOLIO – ENERGY SECTOR Hydropower Plants 43 Projects US$ 2,590 millions 8.2 millions tCO2e per year Geothermal Plants 2 Projects US$ 280 millions 448,812 tCO2e per year

  21. CDM PROJECT PORTFOLIO – ENERGY SECTOR Transmission Lines 4 projects US$ 37 millions 38,330 tCO2e per year Wind Power 3 Projects US$ 416 millions 388,128 tCO2e per year

  22. CDM PROJECT PORTFOLIO – ENERGY SECTOR Transport 4 Projects US$ 1006 millions 1,435,434 tCO2e per year Solid Waste 7 Projects US$ 534 millions 945,6897 tCO2e per year

  23. CDM PROJECT PORTFOLIO – ENERGY SECTOR Biomass 13 Projects US$ 166 millions 1,296,829 tCO2e per year Fuel Switching 6 Projects US$ 32 millions 518,202 tCO2e per year

  24. CDM PROJECT PORTFOLIO – ENERGY SECTOR Cogeneration 4 Projects US$ 6 millions 24,686 tCO2e per year Energy Efficiency 7 Projects US$ 1,202 millions 2,612,321 tCO2e per year

  25. CDM PROJECT PORTFOLIO – FORESTRY SECTOR 29 projects in 15 regions of the country : 123,939 Has Estimated Emissions Reductions (TCO2e): Until 2012: 883,161 20 years – 54,659,756 30 years – 66,720,401 Investment: US$100.6 millions

  26. CARBON PROJECT PORTFOLIO – REDD SECTOR 3 projects in many regions of the country : 288,180 Has GEI Reductions (TCO2e): Until 2012: 3,750,000 20 years – 7,500,000 30 years – 40,000,000 Investment: US$1 million

  27. CDM PROMOTION ACTIVITIES With the Support of Carbon Finance Assits Peru will participate in Carbon Expo 2009, with an updated CDM Project Portfolio, a Booth and a National Delegation of peruvian enterprises to keep the status of one of the most importants CDM Host Countries . 2004:18 projects, US$ 700 millions of Investment 2005: 39 projects, US$ 1,200 millions of Investment 2006: 50 projects, US$ 1,441 millions of Investment 2007: 71 projects, US$ 2,890 millions of Investment 2008: 126 projects, US$ 6,300 millions of Investment 2009: around 140 projects

  28. CDM IN PERU: PROMOTING CDM • Organization of Second Latin American Carbon Forum "Latin Carbon" September 2007, in Lima, with more than 600 participants from the Latin American Region and more than 150 bilateral meetings between buyers and developers of CDM projects. • Participation in Third Latin American Carbon Forum "Latin Carbon" October 28, 29 and 30, 2008 in Santiago, Chile. • In July 2008, Peru was considered “Country of the Month” by the GTZ CDM Highlights Magazine. • Peru remains in the 6th Place in the host countries - Magazine Carbon Point (Feb 2009).

  29. MARKETING PERU FONAM identifies potential new projects to update the Portfolio of CDM Projects of Peru and present it in the Carbon events annually.

  30. RANKING OF CDM HOSTING COUNTRIES According to PointCarbon until January 2009, Peru is in eighth place in the ranking of most attractive countries in the Worldfor CDM.

  31. MARKETING PERU Peruvian CDM Project Portfolio

  32. Promotion of Programmes of Activities and Bundling Projects: At least 5 P-CDM where identified, and are under revision: Promotion of Lighting Efficiency in Public Buildings, with the support of the Ministry of Energy and Mines Promotion of rural electrification using solar panels in isolated areas of Peru, with the support of the Ministry of Energy and Mines. Promotion of Fuel Switching from Diesel to Natural Gas in Transportation Sector, sponsored by Ministry of Transport Energy efficiency and fuel switching in Boilers, promoted by Ministry of Production Small Landfill in Local governments, promoted by FONAM and DIGESA. CDM IN PERU PROGRESS: PoA-CDM

  33. Training for Financial sector, the most important national banks were trained about CDM financing: Scotiabank, Credit Bank and Continental Bank (BBVA). FONAM made strategic agreements with National and International Actors, as well as Public and Private sector in Peru to sponsor and facilitate the activities of CD4CDM Project (JICA, World Bank,UNDP,MoUs) . These synergies can be useful in the development of workshops and training activities to identify relevant stakeholders interested in develop CDM projects and programmes. CDM IN PERU PROGRESS

  34. Government sectors are aware of the importance of CDM Facilitating the information process, with statistics, specific studies, for the required information to indentify and develop CDM documents; Develop the CDM framework as a promoting tool for new investments and include climate change into national policies. Develop incentives for make peruvian investment opportunities more attractive. CDM IN PERU PROGRESS

  35. FONAM’S COOPERANTS FONAM made agreements with : 2001 – 2002 World Bank / Switzerland 2003 – 2005 Netherlands 2006 Andean Development Corporation (CAF) 2007 – 2008 UNEP- RISOE 2007 – 2008 JICA 2008 – 2011 IADB 2008 – 2010 World Bank

  36. PENDING OPPORTUNITIES Methane, Wastewater treatment, Manure Management More carbon intensive fuels to Natural Gas Process reengineering and measures, cogeneration Aforestation, Reforestation and REDD Hidro, Wind, Geothermal, Tide power, Transmission lines, Biofuels

  37. NEW CDM OPPORTUNITIES

  38. Thank you! Julia Justo jjusto@fonamperu.org www.fonamperu.org

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