Climate financing in Latin America and the Caribbean How are public development banks supporting the climate transition?
Year: 2024
Content-Type: Report
Description: Latin America and the Caribbean countries are paying a disproportionate price for the climate transition, given their low contribution to global CO2 emissions. Several Countries in the region, mainly in the Caribbean, have some of the largest exposures to physical risks, despite their relatively small contribution towards global emissions. These risks have been particularly evident over recent years, with several examples of severe economic and human damage associated with climate events across the region, ranging from wildfires to floods, droughts and cyclones. This paper begins by providing an overview of climate risks in Latin American and Caribbean countries, using the EIB's country climate risk scores. This introduction is followed by an assessment of the region's climate investment needs and potential sources of financing, in the current macroeconomic and fiscal context. The role of public development banks in the region, their current contribution to climate risk mitigation and the results of the survey conducted are described. The last section presents the main findings and policy recommendations.
Pages: 32 pages
Author: EIB, ALIDE
Categories: Climate / Resilience, Development, Public banks, Publications
Tags: Climate Finance, Climate Mitigation, Public Development Banks, Transition