Last month, Peru hosted its first-ever Impact Investing Summit, a landmark event that signals a new era for sustainable investment in the country. Held in Lima, this summit brought together a diverse group of stakeholders, including investors, social entrepreneurs, government officials, and non-profit leaders, more than 350 attendees, all united by a common goal: to drive positive social and environmental change through impact investments.
The summit was organized by Aliados de Impacto, the Peru GSG National Partner, an organization aiming to promote the development of the impact investment ecosystem in Peru, providing strategic guidance and facilitating opportunities between actors to mobilise resources to achieve the United Nations Sustainable Development Goals.
Building the ecosystem
Peru has long been recognised as a country of entrepreneurs, microenterprise and small business segment is extremely important to Peru’s economic growth. While the microfinance sector has been consolidated during the last decades, the social entrepreneurship and social innovation ecosystems have only been developing in Peru relatively recently with some progress over the last few years.
A recent study led by Aliados de Impacto, focused on agribusiness and value chains, identified a total of 135 actors playing roles such as capital providers, financial intermediaries, enabling environment and supporting organisations in Peru’s impact investment ecosystem.
Important gaps remain in terms of better collaboration between actors, attracting more talent and service providers, and educating local foundations and corporations on impact investing. Aliados de Impacto and other actors are focused on closing these gaps and strengthening the ecosystem.
The event provided a platform for participants to share experiences, discuss challenges, and explore opportunities in the burgeoning field of impact investment, and highlighted Peru’s potential as a fertile ground for impactful projects, for example in areas such as sustainable agriculture, nature conservation- with an emphasis in the Amazon rainforest, circular economy, and education.
LATAM impact leaders
LatAm impact investing community’s leaders shared their knowledge, contributed to spark discussion and inspired collaborations in the summit. Among them was Kusi Hornberger who explained the six paradigm shifts to scale impact, finance and investments; Sebastian Welisiejko from GSG Impact discussed the global trends on impact transparency and their implications for Peru and the wider LatAm region.
Carmen Correa from Pro Mujer, explained the importance of gender lens investment; Heiner Skaliks from Convergence Blended Finance conducted a training on blended finance; Daniel Field from 60 Decibels led a session on impact measurement; and Borja García, Latam head of structuring at Citi Social Finance, pointed out the increase in demand for impact investing in Latin America and the role of the financial sector.
Financial transformation
The summit underscored the critical role of the financial sector in mobilising capital for an impact economy. Discussions focused on how financial institutions can support and scale impact investments, bridging the gap between traditional finance and impact-oriented projects.
Gianfranco Ferrari from Credicorp, stressed the importance of financial inclusion for national development. Peru ranks sixth in the Financial Inclusion Index, based on a survey of over 13,000 Latin Americans. With a score of 43 out of 100, Peru is at the lower end regionally, though trends are improving. Despite regular access, there’s significant room for better usage and service quality. Ferrari also noted that digitalisation alone is unsustainable without education and called for tailored plans and better connectivity.
Daniel Corrales, from Symbiotics Asset Management, explained the transition pathway and experience of Symbiotics driving impact investment.
Climate and biodiversity
According to the Ministry of Environment (MINAM), approximately 22% of the Peruvian national economy is linked to biodiversity and the trade of biodiversity products. Peru is not only one of the most biodiverse countries in the world, it is also the ninth most forested country and contains over 13% of the Amazon rainforest. Unfortunately, its natural capital is at risk due to deforestation from agricultural expansion, illegal mining and changes in climate.
Elvis Garcia, Director General of Environmental Economics and Financing at MINAM, explained how Peru has been working to boost the green finance programme with support from GIZ.
Aldo Soto, MD and co-founder of Amazonia Impact Ventures, Olga Egorova Senior Investment Officer at ResponsAbility and Jorge Farfán, Venture Partner at KPTL, discussed innovations in impact fund financing for climate and biodiversity initiatives. They explored the challenges faced by entrepreneurs and provided recommendations to enhance access to climate finance.
Amazonia Impact Ventures is raising a $25 million impact-first fund to make innovative sustainability-linked loans to cooperatives and SMEs that protect forestland and support Indigenous livelihoods. KPTL venture fund will back early-stage companies creating high-value biotech, pharma, agricultural, cosmetic and food products.
Aimi Yamamura, Chief Development and Innovation Officer at COFIDE, the Peruvian development bank, facilitated a session about investing in supply chains in the Amazon, where Kurt Rothschild from PROFONANPE, the Peruvian fund for protected areas, and Christian Ruiz from the Amazon Business Alliance explained how their projects are approaching these key issues for improving sustainability in value chains.
Impact startups
Technological innovation was highlighted as a key driver for closing social and environmental gaps.
Jose Deustua from UTEC Ventures, Miguel Gallo from Impact Ventures PSM, Martín Aspillaga from Salkantay, Harold Calderón from Oikocredit, and Maria Pía Morante from Alive, discussed and provided recommendations to impact startups on what funds look for when evaluating their investments. Also, eight entrepreneurs presented their ventures to potential investors, demonstrating how their businesses create measurable social and environmental benefits alongside financial returns.
From tech startups providing solutions to rural areas to companies revolutionising the educational landscape, reducing gender violence and improving the circular economy with digital tools, these innovators illustrated the dynamic and transformative potential of impact investing in Peru.
Looking ahead
The success of the first Peruvian Impact Investing Summit underscores the growing recognition of the importance of aligning financial investments with social and environmental goals. As Peru continues to grapple with challenges such as poverty, inequality, and environmental degradation, the momentum generated by this summit offers a hopeful path forward. By fostering a robust impact investing ecosystem, Peru can attract the capital needed to drive sustainable development, create a more inclusive and resilient economy and reduce forest degradation and biodiversity loss.
As former Minister of Development and Social Inclusion, and Advisory Board member of Aliados de Impacto, Carolina Trivelli, mentioned “This summit marks the beginning of a new chapter where financial returns and positive impact go hand in hand. Peru is ready to lead by example, showing that impactful investing is not only possible but essential for our future.”
As the impact investing community looks to the future, the lessons and connections forged at this historic summit will undoubtedly play a crucial role in shaping Peru’s journey towards sustainable prosperity. Aliados de Impacto is committed to continuing to promote actions in favour of the impact economy. Expectations for future editions include expanding the event’s reach, incorporating new relevant topics, and deepening discussions on impact investment strategies.
Aldo Soto is the managing director and co-founder of Amazonia Impact Ventures.
Marisela Vega is the executive director of Aliados de Impacto.
