In 2021, CAF set out to become the Green and Sustainable Inclusive Growth Bank for Latin America and the Caribbean, committing to an ambitious target of achieving 40% green financing by 2026. This agenda promotes an ecosystem-based approach with a strong focus on regional integration, balancing productive development with the conservation and restoration of the region’s shared natural capital. Under this mandate, CAF is working to develop strategies aligned with the Kunming-Montreal Global Biodiversity Framework and the Paris Agreement.

The climate crisis and biodiversity loss crisis are closely interconnected, meaning that effectively addressing one requires considering the other. Both have predominantly negative impacts on human well-being and quality of life. Rising concentrations of greenhouse gases (GHGs) in the atmosphere lead to changes in precipitation patterns that negatively impact biodiversity, while biodiversity changes, in turn, affect the climate system, especially through their impact on nitrogen, carbon, and water cycles. These interactions can create complex feedback loops, resulting in more pronounced and less predictable outcomes. Effective communication channels must be established to enable stakeholders to engage in dialogue and accelerate the implementation of coherent, science-based policies that permeate national climate and biodiversity agendas.

The Conferences of the Parties (COPs) for the Convention on Biological Diversity (CBD) and the United Nations Framework Convention on Climate Change (UNFCCC) have become highly relevant instruments that facilitate negotiation among countries and enable the participation of other actors influencing actions against biodiversity loss and climate change, respectively. Between 2024 and 2025, two COPs will be held in the region: CBD COP16 in Cali, Colombia, and UNFCCC COP30 in Belém, Brazil. This agenda underscores the importance of Latin America and the Caribbean as a solutions region in the face of this dual crisis.

At CAF, we seek to create spaces that contribute to coordinated action by Latin American and Caribbean countries in these negotiation forums. COP29 presents a key opportunity to reflect on the outcomes from Cali and, considering the progress in negotiations taking place in Baku, begin to outline a common regional agenda for Belém.