Catalyzing Green Recovery

Governments in the region are taking urgent steps to overcome the health crisis and its associated impacts; many are also reviewing their Nationally Determined Contributions (NDCs) under the Paris Agreement. The implementation of NDCs requires the design of financial strategies that are fully embedded in the countries' economic planning. Therefore, one of the fundamental elements to overcome the climate crisis is the support that can be provided by the entities in charge of economic policy.

Since 2019, a Coalition of Finance Ministers for Climate Action has been developing, which already brings together more than 52 ministries of the economic portfolio, basing its vision on 6 principles (Helsinki Principles). Hereby it demonstrates the leadership of these countries in the response to climate change.

As the United Nations Economic Commission for Latin America and the Caribbean states, in the current pandemic, there is an unprecedented opportunity to accelerate the transition to green and resilient economies that can keep global temperatures below 1.5°C, while advancing the goal of more equitable and inclusive societies. COVID-19 adds complexity to the fight against climate change, exposing the structural inequalities and vulnerabilities of societies that are not fully prepared to cope with global crises. At the same time, responding to the pandemic through large-scale investments to revive economies will provide an opportunity to invest in a cleaner and more resilient future.

CAF is committed to Catalyze a Green Recovery in Latin America and the Caribbean by promoting the Green Agenda in the region. CAF will be a partner to contribute to the National Action Plans of our region and help achieve the NDCs work programme. Our countries in the region are transitioning to a more resilient green pathway that helps stimulate economic growth and job creation, while aligning with national development goals and the Sustainable Development Goals (SDGs).

CAF’s Green Agenda is transversal to all sectors of intervention and an integrating axis between the operations of the different business vice presidencies. In this sense, the Green Business and Climate Change Units will play a role in articulating the green potential with various CAF Initiatives and Programs, for example, Cities with a Future, Inclusion and Financial Services, Water, Sustainable Mobility, among others. This articulation will contribute to the consolidation of CAF's role as a major player in supporting member countries to access green financing resources, strengthen institutional capacities, and scale successful experiences to meet the binding commitments established in the 2030 Agenda for Sustainable Development, the Paris Agreement, and the Aichi Biodiversity Targets.

Date: November 8th, 2021

Time: 16:00h (Glasgow) | 13:00h (Buenos Aires) | 12:00h (Caracas) |  11:00h (Lima) 

This event will be broadcasted on this site.