At the Ministerial Meeting of the G20 Working Group on Environment and Climate Sustainability, held in Rio de Janeiro on October 3, CAF reaffirmed its commitment to sustainability and the fight against climate change. Led by Alicia Montalvo, manager of Climate Action and Positive Biodiversity, the CAF delegation also included Estefanía Laterza, representative of the bank in Brazil, and Cecilia Guerra, senior executive of Sustainability, Inclusion and Climate Change.
The Ministerial Meeting, chaired by the Minister of Environment and Climate Change, Marina Silva, concluded the work of the Group under the Presidency of Brazil and culminated in the approval of a Ministerial Declaration on the Environment and Climate Sustainability, to intensify the confrontation with challenges brought about by climate change, including the loss of biodiversity, desertification, degradation of oceans and land, drought and pollution.
The document recognizes the “cross-cutting nature” of confronting climate change and the urgent need for actions with the aim of “expanding, prioritizing and integrating mitigation and adaptation efforts by governments, companies and society.”
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During the Meeting, Alicia Montalvo congratulated Brazil for its performance at the head of the G20 and reaffirmed CAF’s commitment to the issues prioritized by the ministers, in particular, the blue economy and the ocean, the circular economy, the valorization of ecosystem services and, especially, adaptation to the impact of climate change and disaster risk management.
The manager of Climate Action and Positive Biodiversity of CAF reported that the bank has committed US$ 1,250 million in the blue economy and US$ 15,000 million in climate resilience until 2030, prioritizing regional initiatives and those aimed at populations in the most vulnerable situations. She also announced new investments of up to US$2 billion for the preservation of the Amazon.
The document recognizes the “cross-cutting nature” of confronting climate change and the urgent need for action
“CAF is fully aligned with the G20 environmental and climate agenda, moving forward in fulfilling its commitment to invest 40% of its operations until 2026 in actions linked to the environment, climate and biodiversity, under a regional reduction approach.” of poverty and sustainability,” said Montalvo.
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