HAVING committed US$24 billion in climate and green financing for the period 2022–2025, the Inter-American Development Bank (IDB) is seeking to find ways in which countries in Latin America and the Caribbean can accelerate achieving environmental sustainability.

To this end, the IDB and its private sector arm, IDB Invest, will host One Region, Commitment — a cross-sectoral virtual conference — on September 14. The event will see members of government, civil society and academia jointly examine the progress countries across the region have made towards building low-carbon, climate-resilient economies,

Experts will discuss critical issues relating to climate change and the environment as part of a lead-up to the United Nations Conference of Parties 27, which will be held in Egypt in November.

“One region, One Commitment will address topics that are key to making development sustainable, climate resilient, and inclusive, such as: resilience and adaptation; biodiversity and natural capital; decarbonisation and electric mobility; and bio-economics, sustainable finance and a fair transition,” a release from IDB stated.

IDB President Mauricio Claver-Carone will kick-start the conference, which will be held under the slogan ‘Hastening the Sustainability Revolution in Latin America and Caribbean’.

Climate action is just one of five priorities for supporting the region in achieving Vision 2025 — the IDB Group’s road map to a post-pandemic recovery and inclusive and sustainable growth in the region. As such, the regional bank has committed to aligning all its operations with the Paris Agreement.

According to the bank, “The transition to a net-zero economy could create 15 million new jobs in the region and cause an additional one per cent GDP [gross domestic product] growth by 2030.”

“Estimates show that every dollar invested in making infrastructure and economies resilient can generate up to four dollars in economic benefits. But the different stakeholders represented at the One Region, One Commitment conference will have to work together to achieve these goals.”