Peru showcases Sustainability Reporting Diagnostic and Roadmap at Regional Partnership Meeting
The second 2026 meeting of the Latin American Partnership for the promotion of sustainability and SDG reporting was held virtually on 9 July 2026. Mr. Oscar Núñez del Arco Mendoza, President of Peru’s National Accounting Council (CNC) and Chair of the Partnership, welcomed participants and moderated the session. The meeting focused on progress achieved in Peru under UNCTAD’s technical assistance project titled Strengthening sustainability reporting to foster sustainable finance and investment in selected developing countries in Asia and Latin America, as well as on recent activities and developments at the International Sustainability Standards Board (ISSB).
Ms. Isabel Garza Rodriguez, Programme Management Officer at UNCTAD, provided an overview of the project, which supports Cambodia, Ecuador, Peru and the Philippines in strengthening their regulatory, institutional and human capacity infrastructure for financial and sustainability reporting. She highlighted UNCTAD’s tools and resources available to support beneficiary countries and outlined the activities carried out in Peru under the project. Ms. Garza also noted that, at the request of the CNC, a Roadmap for the Implementation of a Sustainability Reporting Framework in Peru had been developed. Finally, she invited Partnership members to participate in the forty-third session of ISAR, to be held in Geneva from 30 September to 2 October 2026, and in the associated technical workshop on 29 September.
Ms. Cecilia Rizo Patron, UNCTAD’s National Consultant in Peru, presented the main findings of the assessment of Peru’s financial and sustainability reporting infrastructure conducted using UNCTAD’s Accounting Development Tool (ADT). The gaps identified and priorities agreed upon during Peru’s National Validation Workshop will serve as the foundation for a National Action Plan aimed at strengthening the country’s financial and sustainability reporting Infrastructure. She also provided an overview of the sustainability reporting practices and requirements currently in place in Peru. Subsequently, she presented the proposed Roadmap, which outlines recommendations for implementing a high-quality sustainability reporting framework for public interest entities, non-listed companies (including MSMEs), and public sector entities, aligned with international standards and best practices, while taking into account Peru’s specific circumstances and needs. The Roadmap also includes policy recommendations on implementation timelines, sustainability disclosure requirements by category of entity, the phased introduction of assurance requirements, human capacity building activities to ensure high-quality information, incentives to promote and accelerate adoption, transitional relief measures to facilitate implementation, etc.
Mr. Oscar Núñez del Arco then described the steps taken by Peru’s CNC to implement sustainability disclosure requirements. He explained that the Council had approved the adoption of IFRS S1 and IFRS S2 in Peru for non-regulated companies exceeding the established revenue threshold, with mandatory application beginning in 2029. He noted that the resolution issued by the CNC was informed by UNCTAD’s proposed Roadmap and the World Bank’s ROSC report, while adapting the recommendations to Peru’s institutional and regulatory context. He also highlighted the Council’s ongoing coordination with financial and securities regulators, public institutions, professional bodies and international organizations to define the scope of application, develop proportionate requirements, identify appropriate transitional reliefs and incentives, and strengthen national training and implementation support.
Mr. Arturo Rodriguez of the ISSB provided an update on the current activities of the IFRS Foundation and the ISSB. He reported that 43 jurisdictions had adopted, were using or were taking steps toward introducing ISSB Standards. He presented the IFRS Foundation’s recently launched Training Partner Programme, educational resources available through the Knowledge Hub, and the FSA credential. Mr. Rodriguez also updated participants on the ISSB’s work on nature-related financial disclosures, explaining that the ISSB was developing proposed incremental requirements through a practice statement informed by the recommendations of the Taskforce on Nature-related Financial Disclosures, with a consultation draft expected in October 2026. In addition, he outlined the ISSB’s ongoing research on human capital and invited participants to respond to the consultation on proposed amendments to three SASB Standards.
Mr. Núñez del Arco closed the session by reporting on the Partnership Chairmanship’s recent regional engagement activities and ongoing bilateral meetings with member countries. He also invited interested jurisdictions to contact UNCTAD to request technical assistance.
The meeting was attended by 68 participants (34 women), from 14 countries.
