On February 14, BAM signed a Memorandum of Understanding with the Chamber of Commerce of Indigenous Peoples of Peru (CCPIP), the Federation of Native Ticuna and Yagua Communities (FECONATIYA) and the Regional Organization of Indigenous Peoples of the East (ORPIO), to evaluate the creation of forest carbon projects in territories on behalf of indigenous communities that make up these organizations, establishing, for the first time, a joint working agreement between the private sector and indigenous organizations in the Peruvian Amazon.
The agreement was reached after holding a series of dialogues and meetings to consider the promotion and development of ecosystem services for carbon capture and storage in forest ecosystems.
The Reducing Emissions from Deforestation and Forest Degradation (REDD+) mechanism aims to create financial incentives to reduce greenhouse gas (GHG) emissions, mitigate the effects of climate change and improve the livelihoods of local populations.
Representatives of indigenous organizations and BAM will work together to promote conservation and sustainable development on indigenous lands in the Peruvian Amazon.
The viability and scope of the projects will depend on the potential of the areas to generate carbon credits in the peruvian Amazon. During this process, BAM will provide the native communities with technical support for the analysis and implementation of the projects under the REDD+ mechanism in accordance with the most prestigious international standards in the market.
If the projects are evaluated as feasible, own and third party resources will be mobilized to finance conservation activities that will allow, through REDD+, to promote the protection of ecosystems and improve the livelihoods of communities in the long term.
BAM, Private investment for a sustainable world.
Por: Valeria Drinot
