• Overview
  • Objectives and Format
  • Session 1 and 2
  • Session 3 and 4
  • Session 5, 6 and 7

This webinar series will target the progress of innovative financial instruments related to two key finance source types for climate and nature action:

  • Climate Finance in the form of flows to address mitigation, adaptation and natural capital including the forestry sector in Latin America and the Caribbean (LAC).
  • Carbon Finance in the form of flows as payments for emission reductions in the AFOLU sector in LAC.

Join us to learn about the latest developments and statistics regarding these sources in finance in the context of LAC.

 

CALENDAR

All webinars at 9.00 - 10.30 am Panama / 8.00 – 9.30 am Mexico / 11.00 - 12.30 Buenos Aires -

 

Session 1: Green macroeconomic modelling - 27 August  

Link: https://zoom.us/meeting/register/tJEudOqtpjgtE9UqRxzn87CvkKu9saHn_XZh                          

Session 2: Financing food systems - 4 September     

Link: https://zoom.us/meeting/register/tJIqcuutqjsoGtYrD3An1s1ioMAQRIyosqHU#/registration  

Session 3: Innovative climate finance instruments for climate mitigation and adaptation - 18 September   

Link: https://zoom.us/meeting/register/tJclf-CqqzsuHNBJpcqom0jSCCWwLYmNe9nP#/registration     

Session 4: Innovative Carbon Finance Instruments for Forests -2 October

Link: https://zoom.us/meeting/register/tJAkc-2hqzMrGtHmNZz_wzMuWtHlSmdO1rwK#/registration                    

Session 5: Common Framework for Sustainable Finance Taxonomies for LAC - 14 October

Link: https://zoom.us/meeting/register/tJAlduGtqjIsH9Gwuj6zvPxDtjc56wyXLvax#/registration             

Session 6: Carbon markets in the region – Establishing the framework for Art.6 implementation

Link: https://zoom.us/meeting/register/tJwkf-qpqjMtEtD4hzjPr1RLydwuySfq5_N7#/registration

Session 7: Green fiscal policies - TBC       

 

The webinar series will target the progress of innovative financial instruments related to two key finance source perspectives:

  • Climate Finance in the form of flows to address mitigation, adaptation and natural capital including the forestry sector challenges in LAC.
  • Carbon Finance in the form of flows as payments for reducing emission reductions in the AFOLU sector in LAC.

     

BACKGROUND

Global climate finance reached USD 1.3 trillion on an annual average in 2021/2022. Climate finance is uneven across sectors. While mitigation accounted for 91% of the overall flows, adaptation accounted for the remaining 9%. Energy (USD 515 billion), transport (USD 336 billion), and infrastructure (USD 240 billion) are among the sectors accounting for the largest flows. The agriculture, forestry, and land-use (AFOLU) sector accounted for USD 43 billion globally. 

While the source of financial flows is almost even between public sources, including governments, national and multilateral development finance institutions, among others (USD 536 billion), and private sources including commercial financial institutions, corporations, and others (USD 614 billion); debt instruments (USD 609 million) are the most representative for their use[1].

 

 

In LAC, despite that the average annual finance flows for climate reached almost USD 59 million in 2021/2022, there is a significant gap between the needs of developing countries and available funds. Scaling up finance is a priority for countries in LAC to advance on climate action. 

Global carbon finance flows are also advancing. Carbon pricing instruments including carbon taxes, emission trading schemes, and carbon markets continue to evolve and grow. Revenues from these reached USD 104 billion in 2023[2]. While issuances of carbon credits continued to decelerate from 2021, reaching 250 million of credits issued because of integrity concerns in the market, initiatives addressing integrity have emerged on both the supply and demand sides to reinforce confidence in the voluntary carbon market (VCM). Parallelly, in the context of forestry and land use credit issuance, jurisdictional REDD+ credits are emerging as an additional source of carbon credit supply that seeks to address integrity concerns and bring finance to forests.

 

 

Given this context, governments and development finance institutions as public sources, and corporations and commercial financial institutions as private ones, play a crucial role in driving and channeling climate and carbon financial flows for NDCs consecution and Net Zero commitments globally and in LAC. 

[1] CPI (2023). Global Landscape of Climate Finance. Available in: https://www.climatepolicyinitiative.org/wp-content/uploads/2023/11/Global-Landscape-of-Climate-Fina…

[2] World Bank (2024). State and Trends of carbon pricing. Available in: https://openknowledge.worldbank.org/server/api/core/bitstreams/de3e6372-811f-47b3-989e-70ced694f9a8…

Given this global and regional scene, in this webinar series, the United Nations Environment Programme (UNEP) seeks to gather government representatives, policy makers, and other relevant stakeholders in the LAC region as a mean to facilitate information sharing towards climate and carbon finance opportunities, mainly in the context of innovative financial instruments.

The webinar series will also delve into the evolving landscape of climate and carbon finance, examining the challenges, opportunities, and innovations countries face towards: 

  1. the Convention on Biological Diversity (CBD) COP 16 to be held in Colombia from 21 October to 1 November 2024 
  2. the United Nations Climate Change Conference (UNFCCC) COP 29 to be held in Azerbaijan from 11 October to 22 November 2024
  3. the United Nations Convention to Combat Desertification (UNCCD) COP 16 to be held in Saudi Arabia from 2 to 13 December 2024 

In this webinar series, the United Nations Environment Programme (UNEP), in collaboration with other UN organizations, seeks to gather government representatives, policy makers, private sector representatives, and other relevant stakeholders in the LAC region as a mean to facilitate information sharing towards climate and carbon finance opportunities, mainly in the context of innovative financial instruments.

The webinars series will also delve into the evolving landscape of climate and carbon finance, examining the challenges and opportunities that countries face towards: 

  1. the Convention on Biological Diversity (CBD) COP 16 to be held in Colombia from 21 October to 1 November 2024;
  2. the United Nations Climate Change Conference (UNFCCC) COP 29 to be held in Azerbaijan from 11 October to 22 November 2024;
  3. the United Nations Convention to Combat Desertification (UNCCD) COP 16 to be held in Saudi Arabia from 2 to 13 December 2024.

Format

Each session will last up to 1.5 hours, usually starting with a panel discussion among selected experts and followed by a Q&A with the audience.

Logistics

  • Platform: Zoom
  • Languages: English – Spanish will be provided.

 

Session 1: Green fiscal policies 

Date: 27 August 2024, 9.00 - 10.30 am Panama / 8.00 Mexico / 11.00 Buenos Aires.

Leads: Beatriz Carneiro, Aeree Kim    

Description: This session will explore innovative strategies and policies that can help create a greener, more equitable future. Key topics to be discussed are incentives, taxes and subsidies, and sustainable budgeting.

Link to the presentation

 

Session 2: Financing food systems - 4 September     

Link: https://zoom.us/meeting/register/tJIqcuutqjsoGtYrD3An1s1ioMAQRIyosqHU#/registration  

Date: 4 September 2024, 9.00 - 10.30 am Panama / 8.00 Mexico / 11.00 Buenos Aires.

Leads: Beatriz Carneiro, Mabel Gonzalez

Description: This session will provide a comprehensive exploration of the opportunities, strategies, and partnerships needed to finance the transition to more sustainable and equitable food systems. Key areas to be discussed are investment Needs and Opportunities, Inclusive Finance and Smallholder Farmers, Technology and Digital Innovation, and Policy and the Enabling Environment.

Link to the presentation

Session 3: Innovative climate finance instruments for climate mitigation and adaptation

Link: https://zoom.us/meeting/register/tJclf-CqqzsuHNBJpcqom0jSCCWwLYmNe9nP#/registration     

Date: 18 September 2024, 9.00 - 10.30 am Panama / 8.00 Mexico / 11.00 Buenos Aires.

Lead: Gabriela Flores

Description: This session will provide invaluable insights into the trends, opportunities, and challenges shaping the climate and carbon finance landscape. Key topics to be considered are: Innovative Financial Instruments (sovereign green bonds, debt for nature swaps). Country experience: Ecuador

You can review the PPTs of this seminar:

Potentials for Debt-for-Climate and Nature Swaps in LatinAmerica and the Caribbean https://drive.google.com/file/d/1Lej5na2VOPxKmoBZpgUoQ6BaBHN6-IVS/view?usp=sharing

Example of debt swap in Galapagos (In Spanish): https://drive.google.com/file/d/19SmfNyJ6zfVVKTBA0rludy0q9OctLw3F/view?usp=sharing

WFP Sovereign Insurance (In Spanish): https://drive.google.com/file/d/1COVuYw117Ac8ZLZ4aH1Et6vfcLJ8OGcY/view?usp=sharing

 

Session 4: Common Framework for Sustainable Finance Taxonomies for LAC

Link: https://zoom.us/meeting/register/tJAlduGtqjIsH9Gwuj6zvPxDtjc56wyXLvax#/registration

Date: 22 October 2024, 9.00 - 10.30 am Panama / 8.00 Mexico / 11.00 Buenos Aires.

You can review the PPT of this seminar:https://docs.google.com/presentation/d/1SrGiZSL8mBlCJbLdCg5ArkZ3wiRhlijZ/edit#slide=id.p1      

Lead: Mercedes Garcia   

Description: This session will delve into the complexities of sustainable finance taxonomies and the potential for regional cooperation to drive progress towards common standards and principles. Country experience: Panama.

Session 5: Carbon markets in the region – Establishing the framework for Art.6 implementation

Date: 30 October 2024,9.00 - 10.30 am Panama / 8.00 Mexico / 11.00 Buenos Aires.

You can review the PPTs of this seminar:

https://drive.google.com/file/d/1LHxc38AM-K7xyTLLqYzzwkj2noKKm8CA/view

https://docs.google.com/presentation/d/139_1FQIuzSsHwCvi_HTMp8HTOLMoEhhf/edit#slide=id.p1

https://drive.google.com/file/d/1FHuRYxxoVHcAnGBnDmlUZOAvQvE5YpyE/view

Link: https://zoom.us/meeting/register/tJwkf-qpqjMtEtD4hzjPr1RLydwuySfq5_N7#/registration

Team: Judith Walcott, Gabriela Flores, Ana Dávila

Description: This session will provide an overview of how the countries in the region have prepared for the implementation of carbon markets as a mechanism to comply with their NDCs and which are the barriers and challenges that they are facing, as well as the opportunities for future development.

 

Session 6: Innovative carbon finance instruments for forests

Link: https://zoom.us/meeting/register/tJMtdOmqrT8sH9F9G4vBLBf3wTrsdtf03798#/registration

Date: 12 November 2024, 9.00 - 10.30 am Panama / 8.00 Mexico / 11.00 Buenos Aires.

Team: Judith Walcott, Gabriela Flores, Ana Dávila

Description: This session will provide a comprehensive exploration of the evolving landscape of RBF for REDD+, including results-based payment and carbon markets and their transformative potential. Key topics to be considered are financial sources and the concept of nesting.

 

Session 7: Green macroeconomic modelling 

Date: August 2024, TBC

Leads: Beatriz Carneiro, Asad Naqvi 

Description: In this session, we will explore how traditional economic models are being adapted and expanded to incorporate environmental considerations. Topics to be covered may include an overview of integrating environmental criteria into macroeconomic models, metrics and indicators, and policy implications in the areas of green jobs and pollution, among others.