National Competitiveness and Productivity Plan 2024-2030 (Plan Nacional de Competitividad y Productividad 2024-2030)

The Supreme Decree No. 203-2024-EF updates Peru’s National Competitiveness and Productivity Plan (PNCP 2024–2030), embedding climate finance and monitoring mechanisms into its ninth strategic objective, “Promote environmental sustainability in economic activities.” This includes Policy Measure 9.1 (“Climate Finance and Monitoring”), which addresses institutional barriers to accessing international climate funds (e.g., the Green Climate Fund) and integrates climate considerations into financial decision-making. The plan mandates the implementation of a Sistema de Monitoreo to track adaptation/mitigation progress, emissions reductions, and funding flows. This system comprises three components: (i) measurement, reporting, and verification (MRV) of greenhouse gas emissions/removals; (ii) monitoring and evaluation (ME) of adaptation measures; and (iii) tracking of climate finance allocation. The policy aligns Peru’s climate action with international obligations under the Paris Agreement and SDG 13, prioritising capacity-building for public and private actors to access climate financing. It recognises the fiscal urgency of adaptation, citing a projected PEN 66 billion cost for 51 adaptation measures by 2030 (per MINAM’s 2021 National Adaptation Plan).