Canadian climate resilience accelerator for Latin America and the Caribbean

This project aims to use private sector investments in climate change mitigation and adaptation across Latin America and the Caribbean while promoting gender-responsive sustainable economic development. The project offers lower-cost and longer-term loans for innovative private-sector projects that need concessional financing to be viable. Project activities include: (1) investing in climate-smart agriculture practices. This includes drought-resistant seed varieties irrigation infrastructure and sustainable land use practices that aim to increase productivity enhance resilience and reduce greenhouse gas emissions; (2) scaling up low carbon and climate resilient technologies such as energy storage wastewater management and charging infrastructure; (3) restoring sand beaches dunes mangroves and coral reefs to increase coastal resilience and protect the most vulnerable communities from the impacts of climate change; and (4) developing carbon markets in Latin America and the Caribbean by advising and financing borrowing member countries developing carbon credit methodologies and increasing transparency in market conditions.

The expected outcomes of this project include: (1) raised up to $4 billion in public and private investments; and (2) reduced and avoided 25 million tonnes of greenhouse gas emissions.