CAF presents its new strategic approach to ecosystems at COP16

In the framework of the COP 16 held in Cali, CAF -development bank of Latin America and the Caribbean- presented its innovative approach for the protection and restoration of strategic ecosystems in the region. This approach responds to the urgent challenges of the climate crisis and biodiversity loss affecting the continent, considered the most biodiverse in the world, with more than 60% of global biodiversity, including 6 of the 17 megadiverse countries and the most diverse habitat: the Amazon rainforest.

CAF identified 14 strategic ecosystems in Latin America and the Caribbean of enormous global relevance, which cover their entire territory, are interconnected with each other and with other hemispheric ecosystems, and provide key services to ensure the livelihoods of local populations. These include the páramos, Patagonia, the Tumbes forests in the Chocó and Magdalena, the Atlantic Forest, the Mesoamerican biological corridor, mangroves, the Amazon, the Humboldt Current, and the Gran Chaco and Pantanal, among others.

CAF's new ecosystem approach is comprehensive, with a long-term vision and a focus on regional integration. It also places people at the center, promoting sustainable development and including local communities, indigenous peoples and Afro-descendants in decision-making.

This new approach includes the Regional Program for the Conservation, Restoration and Sustainable Use of Strategic Ecosystems, with a budget of USD 300 million, which seeks to increase direct financing to both the public and private sectors and offer tools to identify quality projects.

"This effort is complemented by other CAF initiatives, such as the Green Action Facility, which promotes 100% green operations through technical cooperation and concessional financing and seeks to contribute to making Latin America and the Caribbean an engine of solutions," said Sergio Diaz-Granados, CAF's executive president.

CAF also reaffirmed its commitment to reach a 40% floor in green financing by 2026, with 10% earmarked for biodiversity conservation and restoration, equivalent to approximately USD 2.5 billion. Thanks to the collaboration with NTTDATA, CAF was able to estimate a financing gap in these ecosystems of more than USD 400 billion, and investment in highly efficient projects is expected to reach USD 1.1 billion.

With these actions, CAF continues to position itself as a leader in promoting transformative solutions for sustainability in the region, aligning with the goals of the New Global Biodiversity Framework for 2030 and 2050.