ALIDE organizes webinar on the outlook for sustainable finance after Glasgow
- The implications of climate change were also studied and the results of the COP26 described.
May 3, 2022- The Latin American Association of Development Finance Institutions (ALIDE) organized the webinar “Outlook for Sustainable Finance after Glasgow,” which examined the sustainable finance situation in Latin America, thematic bond initiatives at the international level, and the agreements made during the COP26 held in Glasgow.
Economist and ALIDE international consultant, Pablo Cortinez, commented that the Latin American financial sector has become more aware of the importance of including environmental, social and good governance (ESG) criteria in its sustainability-oriented activities and actions.
Nonetheless, the specialist contended that in order for the region to reach its sustainable finance goals and surmount its gap in financing, it needs the assistance of more developed countries and international organizations that would promote financing and contribute with training and the transfer of technology.
Cortinez also shared just how important thematic bonds are for boosting sustainable finance and underscored the role that development banks are called upon to play in capacity building, promoting investment projects and criteria for defining bond types, and evaluating proper funds management.
French Development Agency (AFD) engineer and member, Guillaume Meyssonnier, for his part, made an assessment of the COP26 and explained the implications of climate change, based on reports of the Intergovernmental Panel on Climate Change (IPCC) that warn that “climate neutrality” must be achieved starting in 2050.
“Countries were asked to raise their contributions towards reducing climate change and to double their financing,” Meyssonnier pointed out in referring to the key issues that need work in order to fulfill the Paris Agreement, reach the Sustainable Development Goals (SDGs) and promote worldwide sustainable finance.
ALIDE continues to boost this issue in its training events. The next course, Sustainable Fiinance for Banks and Development Finance Institutions, scheduled to start on May 16, 2022, will make it possible to delve further into the subject addressed during the webinar.
ALIDE is the community of financial institutions that generates banking solutions for the development of Latin America and the Caribbean. Founded in 1968, its main objective is to contribute to the economic and social development of the region, through the good practices in development financing that it promotes among its associates, about 90 institutions with a presence in more than 20 Latin American countries and other regions of the world.