AFP Integra announced a $90 million investment in an ESG fund in what it believes is a long-term investment in companies that will be better prepared for the future. The pension fund manager migrated part of the investments it had in European markets to this fund, which invests in companies that are better facing the energy transition, climate risks, and sustainable development goals.
The Private Investment Promotion Agency (ProInversión) awarded S/63.5 million ($17.2 million) in projects under the Works for Taxes (OxI) mechanism. The figure is below the S/250 million ($67.7 million) estimated for the first months of this year. In April, the agency awarded S/28 million ($7.6 million) in projects, so it still expects to meet the target of reaching S/480 million ($130.01 million) awarded by the end of the year.
The Governments of Peru and the United States signed a Memorandum of Understanding (MoU) that will enable the development of joint actions for the modernization of the Peruvian forestry sector. The aim is to increase the impact and efficiency of initiatives aimed at combating illegality, strengthening forest governance and the relationship with the private sector. Around 60% of Peruvian territory is covered by forest but between 2001 and 2015 the country has lost more than 1.8 million hectares of forests, an average of 120,000 hectares per year.
Peru's net international reserves amounted to $80.942 billion as of April 14, the Central Reserve Bank (BCR) has reported. This level of reserves is equivalent to 40% of the country's gross domestic product (GDP).
Authorities in the Netherlands have accepted a complaint against Argentinean-owned Pluspetrol for the environmental contamination that its operations have left in Peruvian Amazonian territories, as well as for tax avoidance practices. Pluspetrol will be investigated for "its negligence in carrying out due diligence on environmental and human rights issues" as well as its use of "structures and strategies for tax evasion", the Dutch foreign ministry said.