Peru to Mobilize USD 500 Million for Biodiversity Conservation by 2027

With the goal of accelerating conservation efforts in the Amazon and advancing toward a more inclusive and resilient economy, the project "Accelerating Biodiversity Conservation in the Peruvian Amazon: Innovative and Inclusive Financial Mechanisms". has been officially launched. Funded by the UK PACT program (Accelerating Climate Transitions Alliance), this initiative is being implemented by GGGI in partnership with Terrasos and Mecanismos de Desarrollo Alternos, with technical support from the General Directorate of Environmental Economics and Financing (DGEFA) and the General Directorate of Biological Diversity (DGDB) of the Ministry of the Environment (MINAM), and the National Service of Natural Areas Protected by the State (SERNANP).

The project's objective is to mobilize USD 500 million in financing for biodiversity conservation by 2027 through innovative instruments such as thematic bonds, a habitat bank pilot, and ecosystem services payment mechanisms (MERESE). These actions aim to contribute to the conservation of 300,000 hectares of forests and improve the living conditions of 500,000 people, especially in Amazonian communities.

During the launch event, the UK Ambassador to Peru, Gavin Cook, emphasized: "Peru is one of the most biodiverse countries on the planet (...), but it is also highly vulnerable to the effects of climate change. (...) In this regard, it is essential to develop initiatives that actively contribute to the mobilization of large-scale resources to preserve biodiversity, transition to a low-carbon economy, and promote productive diversification. (...) This project will position Peru at the forefront and allow for the development of public policies to promote a green, sustainable, and resilient economy ”.

The project also incorporates a strong gender and social inclusion focus, recognizing the key role of women, indigenous peoples, and rural communities in conservation, and promoting fair compensation for their contributions.

During the event, a technical panel was held with representatives from MINAM, SERNANP, Terrasos, and Mecanismos de Desarrollo Alternos. They discussed the main challenges and opportunities for integrating biodiversity into effective, inclusive, and scalable financial instruments.

From GGGI, Jorge Bustamante, Sustainable Finance Officer, highlighted that “this initiative aligns with other efforts led by GGGI in support of the Government of Peru to promote sustainable financial solutions and represents a significant step toward stronger environmental governance".

As next steps, the project will proceed with the implementation of a roadmap that includes: the design of the TNFD training program, selection of the MERESE mechanism, supply and demand analysis for the habitat bank pilot, and the review of the Sustainable Sovereign Bonds Framework. These actions will lay the technical and institutional foundations to mobilize large-scale resources and ensure that the mechanisms designed effectively meet the conservation and sustainable development needs of the Peruvian Amazon.