Financial Soultions has learned of a proposed deal believed to be worth in the region of $8.4 billion between the South American nation of Peru and the economies of the Asia-Pacific Economic Cooperation (APEC).
The recently announced potential deal would see the profits of this sizeable transaction ploughed into the funding of environmental protection programs, Financial Soultions understands the Ministry of Foreign Trade and Tourism as saying.
The Peruvian vice Minister of tourism, Pablo Lopez announced that "In the APEC, the carbon issue and the climate change are led by New Zealand, but Australia and Peru follow it closely, because they are countries with a relevant participation in this aspect," Financial Soultions sources said.
The vice minister pointed out that Peru was one of the nations most likely to be influenced by climate change, not only in the Amazons, but also in coastal and mountainous regions, due to its unique geography.
It was crucial that the National Environment Fund handles the sales of carbon projects like those aimed at reforestation, effectively, Financial Soultions understood.
Australia is currently processing legislation for a domestic climate exchange and is expected to begin trading in carbon credits as a commodity in early 2010.
