CAF presents its strategic ecosystems approach at COP29

CAF -development bank of Latin America and the Caribbean- presented at the COP29 Climate Change COP29 in Baku, Azerbaijan, its new approach to work integrally in the 14 strategic ecosystems of the region and, with this, improve preservation and regeneration and provide social, environmental and economic benefits for both countries and the communities that inhabit them.

At an event at the IDFC pavilion, Alicia Montalvo, CAF's Climate Action and Positive Biodiversity Manager, said that “the ecosystem approach responds both to the needs of Latin American and Caribbean countries and ecosystems, as it is comprehensive, puts people at the center, takes a long-term view, visualizes the transnational limits of ecosystems, promotes regional integration and safeguards biodiversity.”

The region has 14 strategic transnational ecosystems of enormous global relevance that span its 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, which will have a budget of US$300 million, as announced at COP16 in Cali, which seeks to increase direct financing to both the public and private sectors and provide tools to identify quality projects.

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