Opportunities to Use the Clean Development Mechanism (CDM) and Other Options to Face the Climate Change. An Application to Peru

Abstract

Investiga el estado actual de los proyectos de mitigación de gases de efecto invernadero que participan en distintos mercados de carbono (MDL, mercado voluntario), principalmente en los sectores de energía, agricultura y forestal, con el propósito de hacer recomendaciones a potenciales inversionistas acerca de dónde encontrar las mejores oportunidades para invertir en mercados de carbono en el Perú. En dicho país existe mucha información acerca de las emisiones de gases de efecto invernadero (GEI) de diversos sectores productivos; pero la independencia de estos sectores mantiene dispersa la información de temas ambientales, energéticos y económicos, haciendo difícil para un inversionista entender con facilidad la situación. Este trabajo busca presentar la situación actual del Perú como país anfitrión de acciones de mitigación del cambio climático financiadas por mercados de carbono, principalmente en los sectores energético, agrícola y forestal que son los que mayores emisiones de GEI tienen registrados. Asimismo se busca mostrar las tendencias de las inversiones en dichas acciones de mitigación, así como las barreras y oportunidades para los mercados de carbono en Perú.

This thesis has the objective of analyzing and presenting the current situation of Peru as a host country of climate change mitigation actions financed by the carbon markets. Nowadays, the country has more information available than ever, but the independence of the involved sectors keep environmental, energy and investments information separated among them, making it difficult for investors to have a broad idea of the situation. Thus, this paper also aims to join dispersed research efforts in order to make visible the current state, the trends of investments, as well as the barriers and opportunities that the carbon markets face in Peru. As a result of the investigation, it was clarified that Peru’s industrial sector is small, being transportation sector the principal energy consumer and a potential area for developing carbon projects. Even though it’s relatively small size, the power sector offers profitable opportunities of investment, highly attractive to be complemented with incomes from carbon sales. Finally, the forest sector, which is Peru’s main source of GHG emissions due to deforestation, holds the largest potential for developing carbon projects by implementing reforestation and conservation actions. Forest projects are needed, not only due to the business opportunities, but to avoid destroying one of the most valuable resources of the country: its biodiversity.