Peru Needs to Spend Up to US$300 Million to Combat Climate Change

Peru needs to invest from US$ 200 million to US$ 300 yearly to combat the effects of climate change, according to a study requested by the Environment Ministry (Minam).The results of the study were discussed at an inter-ministerial workshop on climate change which included authorities from the national and regional governments as well as civil representatives.

During the workshop, authorities agreed to identify financing priorities and draw up an integrated policy document to ensure sustainability.

Minam will also strengthen technical capacities in regions so that they can take on an active role in carrying out climate change projects.

“Adaptation strategies related to soil use, changes in the productive calendar, irrigation technology and other activities related to water use need to be developed,” said Minam’s director of climate change, desertification and water resources, Eduardo Durand.

To include the climate change component in development projects, there needs to be better coordination between local and regional governments, he was quoted as saying by Business News Americas.

Virgin Forest
Virgin Forest

Peru is particularly vulnerable to the effects of climate change because the economy depends directly on the climate and its changes, said deputy minister for the strategic development of natural resources Vanessa Vereau.

To confront the reality of climate change, the country will need financing from international and domestic sources, she added.

Minam is currently drawing up a proposal to create a financing fund from the country’s fossil fuel tax to present at the UN Climate Change Conference, to be held in Danish capital Copenhagen from December 7-18.

Authorities also discussed the progress of ongoing climate change initiatives in Cuzco, Apurímac and Junín; integrated basin studies in Alto Mayo, Santa and Piura, among others; and advances in negotiations in preparation for the meeting in Copenhagen.


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