In October last year Inter-American Development Bank (IDB) announced that it is going to double its climate related projects by increasing financing by between 25 and 30 percent by 2020. The IDB was established in 1959, it offers long-term financing for economic, social and institutional development in Latin America and the Caribbean.
As reviewed in an October, 2015 press release, starting in 2018 the bank will begin screening projects for climate risks and resilience. This will ensure that money invested goes towards environmentally sustainable projects and achieves the stated goal of helping these countries to meet their INDC targets.
The IDB is working with private sector finance to provide financing for adaptation and resilience. As a newly consolidated entity the IDB will offer innovative financial products, such as green bonds.
Historically the IDB has devoted 14 percent of its financing to climate related projects between 2012 and 2014.
Related
Green Finance Goes Mainstream in 2016
Green Bonds Emerging as a Major Force in Green Finance
The Green Climate Fund Comes of Age
The Climate Investment Fund’s Low Carbon Development
World Bank to Finance More Renewables in the Developing World
Innovative Solar Financing Instruments
Drivers of Green Investment Growth
New Sustainability Focused Finance Instruments
Opportunities in Sustainability Finance Highlighting Renewables & Energy Efficiency
The Panama Papers Highlight the Need for Sustainability
A World Bank Action Plan to Combat Climate Change
European Commissioner for Climate Action Urges Development Banks to Divest from Fossil Fuels
A Large and Growing Chorus is Calling for an End to Fossil Fuel Subsidies
Discover more from Change Oracle
Subscribe to get the latest posts sent to your email.
