The Inter-American Development Bank (IDB) and its private sector arm, IDB Invest, organize and present next Wednesday the 14th a new edition of “One Region, One Commitment”, a virtual conference that will bring together governments, the private sector, civil society and academy to analyze the progress that the countries of Latin America and the Caribbean are making towards low-carbon and climate-resilient economies.
At the event, the IDB reported through a statement, experts will discuss highly relevant aspects related to the climate agenda, which will turn the conference into a prelude to COP27 (an annual conference on Climate Change of the United Nations), which this year will be held in November in Egypt.
“One Region, One Commitment” will address key issues for sustainable, climate-resilient and inclusive development such as: resilience and adaptation; biodiversity and natural capital, decarbonization and electromobility; bioeconomy, sustainable finance, and just transition. The conference, which this year will be held under the theme Accelerating the sustainability revolution in Latin America and the Caribbean, will be inaugurated on the 14th and will include the participation of IDB President Mauricio Claver-Carone. In its 2021 edition, the event was attended by some 35,000 people.
The transition to a net zero emissions economy could benefit the region with 15 million new jobs and 1% additional GDP growth by 2030, according to an IDB study. It is estimated that every dollar invested in making infrastructure and economies more resilient can generate up to four dollars in economic benefits. To achieve these goals, a collaboration between various actors that will be represented at the event “One Region, One Commitment” is required.
The IDB has committed to align all operations with the goals of the Paris Agreement starting in 2023, and to provide $24 billion in climate and green financing during the period between 2022 and 2025.
Vision 2025 is the IDB Group’s roadmap to accelerate the reactivation and sustainable and inclusive economic growth of the region after the pandemic, in which climate action is one of the five priority areas of support for Latin America and the Caribbean .