Latin America and the Caribbean will show its progress in climate action at COP27

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Latin America and the Caribbean will show its progress in climate action at COP27
Source: Twitter @COP27P
November 03, 2022

The 27th Conference of the Parties to the United Nations Framework Convention on Climate Change (COP27) is held in Sharm El-Sheikh (Egypt) from November 6 to 18


The largest climate-related event on the planet will bring together heads of state, ministers, mayors, and representatives of civil society and the private sector. Participants will analyze the progress made since COP26, held in Glasgow in 2021, and the steps that lie ahead to meet the objectives of the Paris Agreement.

The Inter-American Development Bank (IDB) will be present in Egypt with a delegation made up of Benigno López, Vice President of Sectors and Knowledge; Juan Pablo Bonilla, Manager of the Climate Change and Sustainable Development Sector; Graham Watkins, Head of the Climate Change Division; Marcelino Madrigal, Head of Energy; Laura Ripani, Head of Labor Markets; and Tatiana Schor, Head of the Amazon Coordination Unit, among others. Participating on behalf of IDB Invest, the private arm of the IDB Group, will be its General Manager, James Scriven; Alexandre Meira da Rosa, General Director of Strategy; Hilen Meirovich, Head of Climate Change; Guillermo Foscarini, Head of Agribusiness; and Jozef Henriquez, Head of Resource Mobilization. From IDB Lab, the innovation laboratory of the IDB Group, Yuri Soares,

Five IDB Group events will be held to publicize the progress and opportunities to continue supporting countries to achieve their climate goals. The first event, Accelerating the Implementation of Climate Action in Latin America and the Caribbean, will take place on November 8. The other events will be: Ecosystems of innovation and climate action (November 10); How Climate Finance Mobilization Promotes Adaptation and Resilience in the Private Sector in Latin America and the Caribbean (November 12); Achieving Energy Security through the Energy Transition in Latin America and the Caribbean (November 14); and, the role of Payments for Environmental Services for the conservation of Amazonian socio-biodiversity: the case of the state of Pará, Brazil (November 16). These events will take place in the multilateral banks pavilion, located in Zone C, MDB Pavilion (#58), Blue Zone. More information in this link.

The IDB will launch several publications during COP27, including “Long-Term Adaptation Planning in Latin America and the Caribbean” and “Financing Adaptation from the Private Sector”.

The IDB Group arrives at COP27 as the main strategic ally of Latin America and the Caribbean in channeling public and private investment for action against climate change, and in mobilizing private capital. In addition, through the IDB Lab, the IDB has a long history of promoting the application of innovative climate solutions in the entrepreneurial ecosystem of Latin America and the Caribbean.

In total, the IDB Group mobilized US$6 billion in climate financing in 2021, of which more than US$3 billion went to mitigation projects and activities. In total, financing for adaptation reached 35% of the IDB Group contribution.

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