The Government of the French Republic will contribute €24 million to the recently launched Natural Capital Lab of the Inter-American Development Bank, becoming its founding donor. France’s Minister of the Economy and Finance, Bruno Le Maire, and IDB President Luis Alberto Moreno today signed a letter of intent concerning the contribution on the sidelines of the G20 summit in Buenos Aires, Argentina.
The Natural Capital Lab will promote innovation in the conservation, landscape, regenerative agriculture, biodiversity, and marine ecosystem finance spaces, seeking to bridge the gap between traditional environmental and financial actors from the public and private sectors to incubate, accelerate, and scale new solutions to pressing environmental problems in Latin America and the Caribbean.
This region is one of the most biodiverse in the planet, but its natural capital is under threat. A recent study by the World Wildlife Fund stated that Central and South America suffered an 89% decline in vertebrate species population since 1970. Another study by Global Forest Watch showed that four of the 10 countries that suffered the biggest tropical tree cover losses in 2017 were in Latin America.
By backing the Natural Capital Lab, France will help countries in Latin America and the Caribbean go forward with innovative projects to fight deforestation, invest in nature-based solutions to environmental problems, facilitate the transition to climate-smart agriculture, and preserve and restore marine and land biodiversity.
The announcement of France’s donation underscores the importance of the environment in the G-20 summit and the need to develop new financing models and partnerships to tackle environmental risks and climate change.
About the IDB
The Inter-American Development Bank is devoted to improving lives. Established in 1959, the IDB is a leading source of long-term financing for economic, social and institutional development in Latin America and the Caribbean. The IDB also conducts cutting-edge research and provides policy advice, technical assistance and training to public and private sector clients throughout the region.