Peru

Peru

Adopted law to promote green hydrogen

24 Mar 2024

On 24 March 2024, Peru adopted the Green Hydrogen Promotion Act (Law No. 31992) which designates activities related to green hydrogen—from research and production to export and use—as national interests. The Ministry of Energy and Mines (MINEM) will promote the generation, production, and use of green hydrogen from renewable energies as an energy vector, as a fuel, and as an input in industrial processes nationwide, whether as hydrogen or by-products such as fertilizers, organic liquids, and methanol. MINEM is tasked with developing energy policies for the value chain of green hydrogen, including through the granting of economic incentives, planning for development centres, and securing international financing. It should also promote the development and production of green hydrogen at an industrial level from surplus renewable energy and for its application as a blend in the gas grid.

The law also mandates the creation of a regulatory framework and green hydrogen certification, with all regulations to be established by 19 September 2024.

The Minister of Energy and Mine of Peru presented the new law during the LATAM-Japan Hydrogen Workshop 2024 in June 2024 and stated that with the publication of the Green Hydrogen Promotion Law, Peru seeks to attract investments in hydrogen to obtain new energy sources for transportation, fertilizer production, oil refining, the steel industry, among other economic activities.

  • UNCTAD has been collecting information on changes in national foreign direct investment (FDI) policies on an annual basis since 1992. This collection has provided input to the analysis of global and regional investment policy trends in the World Investment Report, the Investment Policy Monitors and the UNCTAD-OECD Reports on G20 Measures.

    In 2024, to further strengthen the quality of reporting, UNCTAD revised the methodology of monitoring investment policy measures. and revised the measures going back to 2012 accordingly.

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    Through its monitoring of investment policy changes, UNCTAD offers cutting-edge and innovative contributions to investment policy discourse, and contributes to preparing the ground for future policymaking in the interest of making foreign investment work for sustainable development.

  • The UNCTAD's Investment Policy Monitor database include official measures affecting FDI adopted by United Nations Member States. These encompass measures explicitly targeting FDI (FDI-specific), as well as general investment measures with a clear impact on foreign investment (FDI-related). The measures are either reported directly to UNCTAD by Member States through annual surveys or identified by UNCTAD researchers through publicly accessible sources (such as government websites and specialized policy databases). The classification of measures as more or less favourable is based solely on their potential impact on investors.

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