Executive summary
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Peru has established a strong legal and institutional framework for nature-based carbon projects and continues to strengthen the conditions needed to support participation in the voluntary carbon market. While the country has only one mangrove carbon project currently under development under the Plan Vivo standard, it has experience with other forest-based carbon projects, providing a solid foundation for scaling blue carbon initiatives.
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Peru has established a regulatory framework that gives nature-based carbon projects a clear pathway to participate in the Voluntary Carbon Market (VCM). The framework requires developers to register projects with the Ministry of the Environment through the National Registry of Mitigation Measures (RENAMI), demonstrate that their activities meet approved standards, and independently verify the emissions they reduce or remove before they can issue credits. However, the requirements vary by project type: standard voluntary carbon market projects must follow the general registration process, REDD+ projects must meet additional requirements for land and resource rights, forest management, and social and environmental safeguards, and projects seeking authorization to transfer mitigation outcomes internationally (ITMOs) must follow additional government procedures. Peru is also expanding the range of eligible activities, including mangrove, tidal wetland and seagrass restoration.
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The framework also seeks to protect communities and ensure that carbon projects deliver benefits beyond emissions reductions. Developers must demonstrate how their projects address fair and equitable benefit sharing and comply with applicable participation requirements and safeguards, particularly when activities affect Indigenous Peoples and Local Communities (IPLC). Although Peru does not require a standalone benefit-sharing agreement or Free, Prior and Informed Consent (FPIC) for every nature-based carbon project, projects in Indigenous territories face additional government scrutiny to assess compliance with protections for Indigenous rights and traditional knowledge.
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Peru provides a clear legal framework for land tenure and carbon rights in mangrove ecosystems. Nature-based carbon projects can be developed on public, private, and communal lands through a range of legal instruments, including conservation concessions, community management agreements, and private ownership, subject to forestry, environmental, and carbon market requirements. Carbon rights derive from legally recognized forest management and ecosystem service rights rather than a standalone property right, while RENAMI registration strengthens legal recognition of mitigation measures and supports the transfer of carbon-related rights.
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Overall, Peru has favorable enabling conditions for blue carbon projects: the country has a strong regulatory framework for voluntary carbon market projects, with clear registration procedures, mandatory MRV requirements, robust environmental and social safeguards, and legal pathways for projects across public, private, and community-managed mangrove areas. RENAMI and existing forest management rights provide additional certainty for investors and developers.