Lima, July 16, 2021 –Peru’s Ministry of Economy and Finance has officially approved the country’s Sustainable Bond Framework (Ministerial Resolution N° 221-2021-EF/52) following the stringent standards of the International Capital Market Association (ICMA), which establishes principles and recommendations for the governing and issuance process in order to promote transparency and integrity in the ever-growing thematic bond market.
Peru’s new Sustainable Bond Framework is the result of the leadership of the Ministry of Economy and Finance and its commitment to green finance. The General Directorate of the Treasury spearheaded this work and is supported by the National Competitiveness and Productivity Council. The Global Green Growth Institute (GGGI) provided technical assistance under a project financed by the UK Pact Programme (Partnering for Accelerated Climate Transitions).
This green finance instrument of the Ministry of Economy and Finance of Peru will have far-reaching effects, as sustainable bond issuances will directly support aspects of climate mitigation and adaptation implementation under the country’s NDC, COVID sustainable recovery, and low carbon development in environmental and social dimensions across sectors in Peru.
Sustainable bonds, along with social and green bonds, are innovative financial instruments that governments can use to fund public investment projects with greater environmental and social impact in different sectors, which is key in a context of increased climate ambition and post-pandemic recovery.
Access the full event HERE.