We often take materials for granted. Steel, cement, chemicals, glass, and bricks form the physical reality of our civilization. We use them to build houses, schools, hospitals, offices, roads, and dykes to reduce the impact of natural disasters. But can we continue to rely on them when their production causes 34% of global CO2 emissions and global leaders pledge to reach net-zero emissions by around 2050? The answer is yes.
Find out how and to whom you can express your concerns about potential environmental or social impacts of an IDB Group-financed project.
The Paris Agreement, ratified by 193 parties, including all countries in Latin America and the Caribbean, aims to strengthen the global response to climate change including by increasing the ability of countries to adapt to the adverse impacts of climate change and foster climate resilience and by making finance flows consistent with a pathway towards climate-resilient development.
Global warming is already at the dire halfway point to the 2°C limit set by the Paris Agreement. According to the Intergovernmental Panel on Climate Change (IPCC), to meet the 1.5°C target, global CO2 emissions need to be reduced by 45% from 2010 levels by 2030 and reach net-zero emissions by 2050.
Achieving the energy transition in Latin America and the Caribbean is a key step of the regional low-carbon pathway. However, it requires a strong commitment from multiple sectors. Both, government and the private sector must invest in renewable and sustainable energy, considering a long-term vision and the commitment to the Paris Agreement. Decarbonizing the energy sector, including clean transportation and energy efficiency, are essential elements of climate change mitigation in LAC.
Your day in the future. You cook breakfast every morning on an electric induction stove. It is powered, as all appliances in your home, by the solar panels on your roof. To go to work, you take your e-bike or the tram that a wind farm powers outside the city—just another Tuesday with a zero-carbon footprint. And here is the best part: you can afford it. Electricity is so cheap that you are not charged for how much energy you consume.
Picture this. Instead of being stuck in traffic jams, you spend time with family or play football with friends. Instead of spending money on car bills and gasoline, you spend it on a healthy dinner or save it for your next holiday. And instead of getting sick from inhaling fumes and forgetting your city overlooks the Andes, you breathe fresh air and see blue skies.
Despite their short history, Sovereign Thematic Bonds have emerged as an interesting opportunity for Latin America and Caribbean (LAC) countries to efficiently channel domestic and international capital markets towards sustainable investments.
Despite the difficulties and challenges that Haiti has been facing since 2019, investment projects continue to be carried out in the country in areas such as access to water, education, health, energy, agriculture and productive infrastructure.
The sustainability revolution requires interaction and collaboration among various actors to generate the transformational changes needed to address the impacts of climate change. That is why the public and private sectors, civil society and academia must join forces to drive strategies and action towards a carbon-free and climate-resilient economy.