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IFC Encourages Private Sector Action to Address the Effects of Climate Change in Peru


In Peru
Clara Ugarte Perrin
Phone: +51 1 6112501
E-mail: Cugarteperrin@ifc.org


Lima, Peru, March 24, 2011—IFC, a member of the World Bank Group, and Peru 2021, highlighted today the key role of the private sector in addressing challenges generated by climate change in Peru, encouraging dialogue on the urgency of implementing sustainable mitigation and adaptation strategies.

Around 200 leading representatives from public, private sector, and civil society organizations gathered at a conference hosted by IFC on Thursday in Lima, to discuss the challenges and opportunities presented by climate change for the private sector. The Ministry of Foreign Affairs of Finland provided support for the conference, which focused on risk management issues and business opportunities related to climate change. The conference is the first one that IFC has hosted in the region.

“Peru 2021 promotes capacity-building on carbon markets and clean development for companies in Peru, introducing the carbon footprint as good practice for the private sector,” said Henri Le Bienvenu, Peru 2021 Executive Director. “We are contributing to this important event to promote the preservation of the environment for the next generations in the country.”

Although Peru is not a significant emitter of greenhouse gases compared to other nations, incorporating low-carbon technologies may help improve the country’s competitiveness due to energy diversification and decreased energy costs from improved efficiencies.

IFC brings a unique approach to addressing climate change. IFC plans to grow its climate-related investments to at least 20 percent of its overall commitments within three years—tripling its annual investment program to more than $3 billion. Spending on climate change by IFC Advisory Services is expected to reach the same share over the same period—more than doubling current levels.

“IFC's main focus is to support the private sector in its efforts to mitigate and adapt to the challenges of climate change by providing innovative financing structures and advisory services that can help achieve climate-friendly business and inclusive economic growth,” said Mohsen Khalil, IFC's Global Head of the Climate Business Group.

The conference explored how private sector companies are investing in new technologies, as well as the adaptive measures they are undertaking in this area. The conference included sessions on sustainable energy, land use and forest resources, improved water use and efficiency, and managing risks and insurance.

About IFC
IFC, a member of the World Bank Group, is the largest global development institution focused on the private sector in developing countries. We create opportunity for people to escape poverty and improve their lives. We do so by providing financing to help businesses employ more people and supply essential services, by mobilizing capital from others, and by delivering advisory services to ensure sustainable development. In a time of global economic uncertainty, our new investments climbed to a record $18 billion in fiscal 2010. For more information, visit www.ifc.org/lac

About Peru 2021
Peru 2021 is a nonprofit civil association, led by entrepreneurs, that works to achieve a shared national vision by 2021, when Peru will be celebrating 200 years of independence, and to promote Corporate Social Responsibility as a management tool, so the private sector becomes an agent of change to accomplish Peru´s sustainable development. Peru 2021 represents the World Business Council for Sustainable Development - WBCSD in Peru, a coalition of more than 180 companies committed worldwide to social responsibility and sustainable development. For more information, visit http://www.peru2021.org/