These consequences could include increased severe weather patterns, sea level rise and adverse impacts on forests, biodiversity, agriculture and human health.

In her remarks at the opening of the seminar Responding to Climate Change: A Proposed Framework for Action, Dillon pledged the Bank’s support in helping its borrowing countries both to participate in efforts to reduce emissions of greenhouse gases as well as to mitigate the impact of climate change on social and economic development. It is estimated that greenhouse gases- produced by burning fossil fuels, livestock production, fertilizer use and other sources, including loss of forests- could increase the earth’s surface temperature to up to 3.5 degrees Celsius by the year 2100.

Latin America has been closely involved in negotiations to address climate change beginning with the Earth Summit in 1992. In particular, Brazil, Argentina and Costa Rica have played a major role in defining ways to finance strategies to adapt and mitigate climate change. Sixty-five percent of the countries of Latin America have signed the Kyoto Protocol, which strengthens reduction targets and establishes a system where developing countries that reduce greenhouse gas emissions can sell them to developed countries to reduce their reduction targets. A quarter of the region’s countries has signed the protocol.

"This is the most complex environmental problem the world has tried to address," stated Jan Erik Leikvang, of Norway’s Ministry of Foreign Affairs, at the IDB seminar. "In light of this, the results of the Kyoto meeting are remarkable," he said, noting that the negotiations leading to implementation of the agreement are now at a critical stage. Climate change has been a major issue in Norway, to the extent that controversy over how the country would meet its commitments led to the fall of the last government, said Leikvang.

Although science cannot pinpoint the consequences of climate change, said Leikvang, "we do know that developing countries will suffer the most."

The IDB will develop a flexible approach to helping the region’s countries deal with climate change, said Walter Arensberg, chief of the Bank’s Environment Division. IDB support could include education and research, mitigating emissions of greenhouse gases, and promoting forestry and other land-use initiatives.