Regional Climate Change Platform Adopted "Regional Vision for Sustainable Finance"
The Regional Climate Change Platform of Economy and Finance Ministries of Latin America and the Caribbean has adopted a "Regional Vision for Sustainable Finance" to boost sustainable finance and promote effective investments that better position the countries to meet their climate commitments.
The vision, developed at the Regional Platform’s Third High-Level Dialogue late last month, will be presented at international forums and negotiations on climate change, sustainability, and protecting biodiversity.
Key Points
- The vision is a commitment to creating the conditions for capital to flow toward sustainable objectives and building a low-carbon, climate-resilient future.
- The vision has five pillars, including gathering support to increase the new collective quantified goal under the Paris Agreement and improving the region’s countries’ capacity to access financing from climate and biodiversity funds.
- Ministers and representatives from 17 countries, along with senior IDB officials, participated in the Belize meeting, which approved the platform’s new 2024–2025 work plan and appointed Colombia’s Ministry of Finance and Public Credit as the new president pro tempore.
Conclusion
The adoption of the "Regional Vision for Sustainable Finance" marks a significant step forward in the region’s efforts to address climate change and promote sustainable development. The vision’s five pillars provide a clear framework for achieving the region’s climate commitments and creating a more resilient future.
FAQs
Q: What is the Regional Vision for Sustainable Finance?
A: The Regional Vision for Sustainable Finance is a commitment to creating the conditions for capital to flow toward sustainable objectives and building a low-carbon, climate-resilient future.
Q: What are the five pillars of the Regional Vision for Sustainable Finance?
A: The five pillars are gathering support to increase the new collective quantified goal under the Paris Agreement, improving the region’s countries’ capacity to access financing from climate and biodiversity funds, strengthening how these funds are monitored, bolstering national efforts to meet climate commitments, and supporting an overhaul of the international financial architecture for fairer and more just transitions.
Q: Who participated in the Belize meeting that adopted the Regional Vision for Sustainable Finance?
A: Ministers and representatives from 17 countries, along with senior IDB officials, participated in the Belize meeting.
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