CAF launches carbon markets and sustainable finance training for development banks

The Carbon Markets and Sustainable Finance Training Program for development banks in Latin America and the Caribbean kicks off in September, in the context of the Latin American and Caribbean Initiative for the Carbon Market-ILACC, led by CAF jointly with 13 development banks from shareholder countries. This first edition of the program will be offered online with on-demand and live sessions facilitated by a specialized team from Allcot SG and H&H, as a milestone in capacity building in the region.

The participants include renowned entities, like Banco Estado de Chile, Colombia's BANCOLDEX, BANDESAL from El Salvador, Argentina's BICE, BNDES from Brazil, Uruguay's BROU, Ecuador's CFN, COFIDE from Peru, and NAFIN from Mexico, as well as 30 officials from various CAF departments.

The program aims to build capacities of development banks in Latin America and the Caribbean on all stages of the carbon credit business cycle, taking into account that these banks finance strategic sectors in our countries, helping reduce poverty and improve environmental sustainability. Indeed, the region has tremendous potential to expand its share with nature-based solutions in a market valued at more than USD 200 billion in 2022. However, difficult access to financing continues to hinder the development of these projects.

With this approach, four thematic modules have been structured to give participants a complete, practical understanding of key issues around carbon credits and sustainable finance. This will help them develop the skills and understanding needed to address present and future challenges related to sustainability and climate change mitigation.

After this initial, limited version, participant feedback will be collected, as input for the Institutional Development and Training Directorate under CAF's Knowledge Department to design a MOOC, to be launched in an open format in 2024, available to the region's financial sector in general and to all interested parties who wish to build their skills and participate in carbon markets.