"It is the product of our work with the region's finance ministries to help governments better estimate the risks and, above all, capitalize on the opportunities that the transition to a green economy can bring for growth, private investment and development.".
SANTO DOMINGO – The Ministries of Finance, Economy and Economy of Latin America and the Caribbean today presented a regional climate change platform to exchange best practices, with the aim of strengthening the climate agendas of the region's ministries and sustainable development.
During the launch event, the Ministry of Finance of the Dominican Republic assumed the pro tempore presidency of the Regional Climate Change Platform of Ministries of Finance, Economy, and Economy of Latin America and the Caribbean. The Inter-American Development Bank (IDB) serves as the platform's technical secretariat, helping to coordinate and facilitate dialogue among the finance ministries.
“We assume the pro tempore presidency of the platform with enthusiasm and a commitment to working together to successfully overcome this global challenge. For the Dominican government, addressing climate change by promoting a genuine energy transition and minimizing the economic, social, and environmental risks of atmospheric events is a priority, which is why we enthusiastically support this IDB initiative,” stated José Manuel (Jochi) Vicente, Minister of Finance of the Dominican Republic.
The creation of the platform represents an important step in strengthening the capacities of these ministries to respond to climate change and leverage available public resources to promote a transition to low-carbon economies and meet the goals of the Paris Agreement.
In addition to fostering coordination in the management of economic and fiscal risks associated with climate events and the global energy transition, the platform will help ministries align public finances with national resilience and decarbonization goals.
The need to create the platform was identified by the IDB governors during the organization's 2021 annual meeting in Barranquilla, Colombia. The platform's launch is supported by a trust fund established by the German government and the IDB, which aims to contribute to increasing the transparency, efficiency, and effectiveness of climate change-related fiscal policy in Latin America and the Caribbean.
“This platform will support Latin American and Caribbean countries in their efforts to better integrate climate considerations into economic and fiscal planning by fostering collaboration and coordination across the region,” said IDB President Mauricio Claver-Carone.
“It is the product of our work with the region’s finance ministries to help governments better estimate risks and, above all, capitalize on the opportunities that the transition to a green economy can bring for growth, private investment and development,” he added
