[{"bbox": [156, 152, 1074, 420], "category": "Text", "text": "growth above 4% is required to overcome monetary poverty, which affected 29% of the Peruvian population in 2023, as well as extreme poverty, which escalated from 5% in 2022 to 5.7% in 2023¹³. Against this backdrop, the Government has proposed to bolster economic growth to restore growth rates, enhancing private investors' confidence, and advancing social and economic infrastructures needed for economic development. However, it is essential to acknowledge that traditional economic growth models, reliant on linear exploitation of natural and raw materials, and the production of goods and services have shown their limits in terms of benefits for local populations, contribute to an unsustainable use of natural resources and generate a large amount of solid waste that is dumped in unmanaged landfills, negatively impacting at short, medium and long term the environment and public health."}, {"bbox": [156, 428, 1074, 697], "category": "Text", "text": "For the EU, global environmental and climate change challenges and the transition to a circular economy are priorities. By supporting policies that promote the transition towards circular economy models, the EU aims to foster the sustainable use of natural resources, including natural, land, water, forest and mining resources, and the responsible use of energy and water sources. Currently, companies not only face economic risks, but also face challenges related to durable environmental degradation and social issues that impact the viability of business operations, social stability, and governance. Consequently, companies are under economic and social pressure to evolve towards sustainable, eco-efficient and climate-friendly models such as the ones promoted by the EU regulations on deforestation and due diligence to develop further their activities, in particular when their markets are the countries of the European Union and like-minded partners."}, {"bbox": [156, 706, 1074, 869], "category": "Text", "text": "According to the OECD, Peru's transition to a circular economy (CE) by 2030 is projected to have net positive effects on GDP growth, with an anticipated increase to 2.41%, and on employment, which is expected to rise to 2.27%. In this context, economic recovery must consider the challenges of climate change, ecosystem degradation, and the imperative transition to a circular economy. Therefore, embracing the circular model is an imminent imperative for sustainable production and development processes."}, {"bbox": [156, 878, 1074, 1173], "category": "Text", "text": "To preserve its environment, natural resources and sustainable economic and social development, Peru has embarked on a journey towards circularity and has achieved significant progress. The Ministry of Production (PRODUCE) and the Ministry of Environment (MINAM) elaborated the \"Roadmap towards a Circular Economy in the Industry Sector\"¹⁴, a process that has been supported by the European Union. This initiative is aimed at fostering sustainable economic growth, promoting inclusive and sustainable industrial development, facilitating the transformation of waste into resources, advocating for the use of renewable energy and encouraging responsible use and reuse of water resources. Additionally, Peru has established regulatory frameworks to support those objectives, such as the \"Law on Integrated Solid Waste Management\", the \"National Competitiveness and Productivity Policy\", voluntary agreements on cleaner production and the \"Law on Collective Benefit and Interest Companies (BIC)\"."}, {"bbox": [156, 1182, 1074, 1239], "category": "Text", "text": "Among many social, legal, and political issues, three aspects deserve to be mentioned: Gender, disabled persons and land tenure register insecurity."}, {"bbox": [156, 1248, 1074, 1410], "category": "Text", "text": "The country has incorporated gender equality in national laws and its green industry plans are ambitious. However, implementing current policies is a key constraint in Peru. As indicated in the Circular Economy Roadmap in Industry Sector, more inter-sectoral collaboration is needed between the private and public sectors, and efforts for businesses to contribute by adopting ambitious sustainable development targets. Although gender equality is protected by the constitution, women and vulnerable populations continue to face discrimination¹⁵."}, {"bbox": [156, 1419, 1074, 1503], "category": "Text", "text": "Women in Peru spend more than twice as much time as men on unpaid care and domestic work. Unequal division of household responsibilities fully impacts the participation of women in the economy, from disproportionate representation in the informal economy, low access to credit and"}, {"bbox": [147, 1547, 1004, 1572], "category": "Footnote", "text": "¹³ https://www.inei.gob.pe/prensa/noticias/pobreza-monetaria-afecto-al-290-de-la-poblacion-el-ano-2023-15137/"}, {"bbox": [147, 1569, 504, 1592], "category": "Footnote", "text": "¹⁴ Decreto Supremo N° 003-2020-PRODUCE"}, {"bbox": [147, 1590, 591, 1615], "category": "Footnote", "text": "¹⁵ Peru_Executive_Summary_ENG_Final.pdf (unido.org)"}, {"bbox": [973, 1679, 1081, 1705], "category": "Page-footer", "text": "Page 7 of 29"}]