Carbon Neutral Initiative
The IDB’s carbon-neutral initiative highlights the Bank’s commitment to addressing climate change by reducing greenhouse gas emissions through eco-efficiency measures where possible and offsetting its unavoidable emissions. The Bank’s commitment to going carbon-neutral supports the objectives of its Environment and Safeguards Compliance Policy and Sustainable Energy and Climate Change Initiative (SECCI). These encourage the reduction and control of greenhouse gas emissions, particularly in activities that produce large volumes of emissions.
The IDB’s Carbon Neutral Initiative is based on four lines of action:
Calculating the IDB Carbon Footprint:
An annual Greenhouse Gas Emissions (GHG) Inventory of the IDB headquarters and country offices, incorporating measurement of direct and indirect emissions associated with the operation of IDB offices such as heating, electricity, chiller emissions, and regular business and annual meeting travel.
Reducing the IDB Carbon Footprint:
Through the implementation of eco-efficiency measures and greening programs as well as the purchase of renewable energy certificates (RECs) issued to green energy producers (such as wind farms) that generate power through renewable energy resources.
Offsetting the IDB Carbon Footprint:
With the purchase of verified emission reductions (VERs) sourced from renewable energy and energy efficiency projects in Latin America and the Caribbean. In voluntary carbon markets, activities that reduce GHGs produce VERs (carbon credits) that can be sold to companies or individuals offsetting their carbon footprints.
Leading by Example in the Region:
By communicating the IDB’s efforts to calculate and manage its carbon footprint and promoting the initiative in the region.
Concurrent with these activities the Bank has begun to look at how to develop a methodology to annually quantify direct GHG emissions in Bank lending operations that produce significant quantities of greenhouse gases.
The IDB recognizes that reducing greenhouse gas emissions can provide a variety of environmental, social and economic benefits to Latin America and the Caribbean and has pledged its commitment to work with its member countries to seek out opportunities for energy efficiency and renewable energy.