Innovation can come in different forms —from different processes to new materials, from institutional capacity to financing sources— yet regardless of what we innovate the action itself is made with the goal of achieving a different outcome. Whether the outcome is to encourage more people to take action through community engagement or to increase a country's energy security by diversifying the energy matrix with renewable energy sources, innovation serves as a positive force for change. Innovation creates ideas, exciting exchange of lessons among teams, enabling a virtuous cycle of creation and learning that takes us to a better tomorrow. That is the underlying philosophy we adopted, and the work on climate is no exception.
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Date: Sep, 2017
The Paris Agreement combats climate change through country-defined sustainable development plans, aiming to align financing flows with low-carbon climate resilient growth. National development banks and local financial institutions can play key roles in providing climate financing and supporting implementation of these plans. This study focuses on national development banks and other domestic development finance actors in Latin America and the Caribbean based on the key roles that they play in domestic economic development and their potential to scale up climate-relevant investment and support for Nationally Determined Contributions implementation. They occupy a unique position within the climate finance landscapes of their respective countries due to their proximity to, understanding of, and nuanced relationships with governments and local private sector actors, and their ability to obtain and channel finance from international sources.
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