During COP27, CABEI to present innovative financial instruments to help developing countries mitigate climate change
The 27th edition of the Conference of the Parties (COP) is being held in Egypt from November 6 to 18.
Tegucigalpa, November 10th, 2022.- One more year, the Central American Bank for Economic Integration (CABEI) participates in the Conference of the Parties (COP), the Annual Summit on Climate Change (UNFCCC) organized by the United Nations where authorities and decision makers from more than 190 countries meet to adopt commitments to help the planet in its fight against climate change.
Aware of its role as the region's most important multilateral development institution, and in compliance with commitments made in previous years, CABEI is actively participating in eleven meetings during COP27, and is organizing, together with its ally the Taiwan International Cooperation and Development Fund (Taiwan ICDF), the "Innovative Approaches to Climate Adaptation Finance and Climate Emergency Response" conference, which will address the gap in climate finance options, the mobilization of private sector actors and the creation of innovative instruments to help developing countries adapt to a climate that is changing faster than expected.
At this event, the Bank will present the Climate Change Investment Project Preparation Fund (FCC), launched in May 2021 with the objective of providing non-reimbursable technical assistance resources for the preparation of projects in sectors such as electric mobility, water and sanitation, energy, acquisition of hybrid or electric vehicles, among others that allow for the adequate management of natural disasters and adaptation to climate change in the countries of the region, and will present concrete examples from Honduras, the Dominican Republic and Guatemala.
"We are pleased to be an active part, once again, in this important space where possible solutions to mitigate climate change are discussed at a global level. As the Green Bank of Central America, several decades ago we made a commitment to support our countries in that task,
which is reflected in the fact that 40% of our approvals have this focus, which has represented US$6.9 billion between 2015 and 2021," explained CABEI Executive President Dr. Mossi.
Events in which CABEI will participate:
Day | Event |
November 9th | Seeking a Just Transition with MRV in Financial Institutions - organized by CAF |
Supporting partner financial institutions in their journey towards mainstreaming climate issues / aligning with the Paris Agreement. - organized by AFD | |
November 10th | IDFC Annual Meeting: Enhancing Economic Resilience in the Face of Multiple Crises: The Transformation of Development Finance Banks - organized by KFW |
November 11th | Electric mobility as a trigger to decarbonize the transportation sector in LAC - organized by CAF |
Financial instruments of development banking for climate change mitigation and adaptation - organized by BICE of Chile | |
November 12th | Innovative Approaches to Climate Adaptation Financing and Climate Emergency Response - organized by CABEI and TaiwanICDF |
Financing Adaptation: How IDFC and the GCF can accelerate A&R investments? - organized by AFD | |
November 14th | Gender Equality and Climate Change: BPD and the Green Climate Fund - organized by AFD and IDFC |
NDB urban climate action program: an IDFC initiative for more sustainable cities - Climate Facility | |
November 15th | The Invisible Environmental Defenders: Afro-descendant Communities in the Americas - organized by the Massachusetts Institute of Technology (MIT) |
Energy transition for a greener economy - organized by CAF | |
Challenges and opportunities for the financing of energy efficiency in Latin America and the Caribbean - organized by BICE of Chile |
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