CAF will focus its operations on the natural ecosystems of Latin America and the Caribbean

CAF - development bank of Latin America and the Caribbean - announced at COP28 in Dubai that it will adopt a comprehensive approach to enhance each of the strategic ecosystems in the region, with the aim of improving preservation and regeneration and providing social and environmental benefits. and economic for both the countries and the communities that inhabit them.

CAF's new approach promotes the conservation and sustainable use of natural resources in an equitable manner, considering their ecological, social and economic context, and recognizes the importance of interdisciplinary collaboration and cooperation between diverse actors to identify problems, design solutions and achieve objectives for the benefit of society and the environment.

Latin America and the Caribbean has transnational strategic ecosystems of enormous global relevance, which cover its entire territory, are interconnected with each other and with other hemispheric ecosystems, and provide key services to guarantee the livelihoods of local populations. Among them are the paramos, Patagonia, the Tumbes forests in Chocó and Magdalena, the Atlantic Forest, the Mesoamerican biological corridor, the mangroves, the Amazon, the Humboldt Current and the Gran Chaco and Pantanal, among others.

“The approach of strategic ecosystems will help us have operations and projects that put people and the use of natural resources at the center of the decision-making process, something essential to achieve more just, sustainable and climate-resilient societies. Given its enormous natural resources and valuable ecosystems, Latin America and the Caribbean is called to lead climate action at a global level. From CAF we want to help make this a reality,” said Alicia Montalvo, manager of Climate Action and Positive Biodiversity at CAF.

The adoption of the ecosystem approach and the commitment to take actions in all ecosystems is fundamental for CAF, as it aligns with the global objectives of the New Global Biodiversity Framework, which seek "zero net loss" by 2030 and "net gain" by 2050. This integrated approach will allow countries to achieve their conservation goals, and CAF to achieve the commitment that 40% of its approvals in 2026 will be qualified as green financing, with it estimated that at least 10% will be specifically dedicated to conservation , restoration and sustainable use of biodiversity.