[{"bbox": [158, 153, 1073, 207], "category": "Text", "text": "for the region, which is 70.8%. This creates opportunities to develop business models based on circular economy²⁰."}, {"bbox": [158, 219, 1073, 458], "category": "Text", "text": "The National Institute of Quality (INACAL), an entity attached to the Ministry of Production, approved the Peruvian Guide ‘GP 127:2021. Circular economy”, which establishes a framework for guidance on how to implement the principles of the circular economy within public and private organisations. Its overarching goal is to promote responsible practices in the management of resources, redesigning business model with a value proposition. This transition towards a circular economy in Peru has been supported by the EU since 2018. The European Union Delegation to Peru has been implementing contracts for this purpose. In January 2024 a new action for three years started named “Sustainable Business - A Circular, Inclusive Economy”, its objective is Peru’s transitions towards inclusive sustainable economic growth."}, {"bbox": [158, 469, 1073, 762], "category": "Text", "text": "During the 2023 EU-CELAC Summit the Global Gateway Investment Agenda (GGIA) was presented with more than 130 potential projects across Latin America and the Caribbean aimed at addressing investment gaps in line in the priority areas defined in 2023 by the Heads of States and Governments as common priorities of the EU and LAC. In Peru, a series of potential projects in the areas of climate and energy, health, and transport have been identified as of interest, including one in water and sanitation. In addition, the EU Delegation to Peru has created in 2024 a Global Gateway platform to further identify projects that could be supported by EU funding and public policies and norms that need to be modernised to reach the SDGs, comply with OECD regulations and reduce obstacles to trade and investments in Peru. The action will be an opportunity to continue working on the identification of potential investments and regulatory work needed in the areas of solid waste management, water and sanitation management, and green finances within the GGIA framework."}, {"bbox": [158, 774, 1073, 984], "category": "Text", "text": "The action builds on progress and results of the EU regional programmes EUROCLIMA+ and AL-INVEST Verde, the EU project ‘Sustainable Economic Transformation and Sustainable Finance’ co-financed by BMZ and the EU Programme “Sustainable Business - A Circular, Inclusive Economy”. Likewise, in the BMZ projects: ProEficiencia, ProCircular and ProAgua, the latter co-financed by the Swiss cooperation in Peru. It is important to strengthen the Peruvian financial system, not only by providing greening methodologies to all stakeholders, but also by encouraging enterprises to invest at local, regional, and national levels, support the strengthening of the country internal market and, in fine, be more resilient to internal and external conditionalities."}, {"bbox": [158, 998, 1073, 1079], "category": "Text", "text": "In this context, the adaptation of Peru to the new EU Regulations, such as the regulations on deforestation-free products, Corporate Sustainability Due Diligence, EU Circular Economy Action plan, and other pertinent normative documents is key to facilitate its economic development."}, {"bbox": [147, 1105, 401, 1136], "category": "Section-header", "text": "## 2.2 Problem Analysis"}, {"bbox": [158, 1150, 395, 1175], "category": "Section-header", "text": "### Sustainable investments"}, {"bbox": [158, 1188, 1073, 1428], "category": "Text", "text": "Public and private companies, alongside with financial institutions, the academy and civil society organisations, have expressed concern regarding climate change, the environmental crisis and their detrimental repercussion on the short, medium and long term, as well as the need to strengthen environmental regulations and related impositions. This evolving landscape has created a new scenario: companies recognise that they do not only face economic risks, but also that environmental degradation and social issues will directly affect their business. In this context, there is a need to develop sustainable financial mechanisms or instruments to implement actions to prevent, mitigate and adapt to the effects of these environmental challenges and facilitate the transition towards more resilient and sustainable models to face changes."}, {"bbox": [158, 1439, 1073, 1519], "category": "Text", "text": "The Ministry of Economy and Finance (MEF) and the Ministry of Environment (MINAM), with the support of the EU, elaborated the Green Finance Roadmap (HRFV) which aims to incorporate environmental considerations into the strategic, operational and disclosure management of financial"}, {"bbox": [147, 1568, 1032, 1613], "category": "Footnote", "text": "²⁰ https://puntoedu.pucp.edu.pe/investigacion-y-publicaciones/estudio-centrum-pucp-el-76-de-las-empresas-en-peru-aumento-su-interes-en-sostenibilidad/"}, {"bbox": [973, 1680, 1081, 1705], "category": "Page-footer", "text": "Page 9 of 29"}]