This was published under the 2010 to 2015 Conservative and Liberal Democrat coalition government
Inspired by Peru’s successful bid to host the United Nations Climate Summit in Lima next year (20th session of the Conference of the Parties to the UNFCCC, also known as COP20), the Lima Chamber of Commerce, the British Embassy, the Ministry of Environment and the Ministry of Foreign Affairs organized a breakfast event on 24 October to involve business in the discussion of important aspects of climate change.
The South American Representative of the Intergovernmental Panel on Climate Change (IPCC), Mr Eduardo Calvo, explained that the immediate reduction of greenhouse gas emissions is essential if we are to reduce the need for adaptation in the future.
On the Peruvian carbon market experience, Luis de la Torre from REPSOL YPS highlighted how his company earned carbon credits under a programme of fuel switch from residual 500 fuels to liquefied petroleum gas (LPG). Likewise, Freddy Ramirez from hydropower plant GEPSA explained the economic benefits of the La Joya investment carbon credits registered through the clean development mechanism of the Kyoto Protocol.
Nadia Wagner from MICROSOL discussed the company’s efforts to improve quality of life in highland areas where a lack of eco-friendly technology exposes inhabitants to high amounts of carbon monoxide. Finally, Lorenzo Eguren from ONCE gave an overview of the current situation of the carbon market worldwide and in Peru.