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On Tuesday, 18 July, Climate Bonds hosted the second Climate Bonds CONNECT 2023 regional seminar in Colombia's capital, Bogota. Drawing inspiration from this year's captivating theme, "Ready. Set. Transition.", the Climate Bonds CONNECT 2023 conference delves into this transition, exploring the power of sustainable finance in driving economic growth in the region, mitigating climate risks, and fostering resilience. The event showcased groundbreaking initiatives, strategies and opportunities that will accelerate the transition towards a low-carbon economy. Climate Bonds Connect centres around facilitating a credible brown-to-green global transition that is ambitious, inclusive, and aligned with the Paris Agreement. During the event, ministers, regulators, investors, asset managers, and influencers discussed their views on developing a sustainable market and how credible, ambitious efforts to decarbonise the Latin American economy can help the region reach its climate targets. One of the key takeaways was the need to create connections between organisations to grow the market, as well as discussion spaces to promote the sustainable finance market in the region. There are already instruments available, but the challenge is to promote and utilise them. The quality and number of attendees were a testament to the growing appetite for credible transition planning in LAC. All the sessions will be available on Youtube in Spanish, except from Sean Kidney's opening speech, which is in English. Read the blog for this event here. |
Watch the entire sessions here Watch the Climate Bond Café Event Roundup:
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Testimonials
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"Taxonomies are becoming a fundamental tool to be able to narrow down or contextualise decisions according to the reality of each country. Currently, the World Bank Group, particularly the IFC, is supporting different developments of taxonomy. We are working with the Central American Council of Banking and Insurance Supervision to develop a regional framework for a regional taxonomy, at least one base taxonomy. We are also supporting the process in the Dominican Republic. There are also ongoing discussions to promote this in other countries, such as Peru, which was also mentioned in the previous presentation. This, in a way, acknowledges the potential that we see in the development of these taxonomies." |
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"In March of this year, we received positive feedback, and many of the comments mentioned that Mexico's activities align with the Climate Bonds Initiative Taxonomy and the European Union Taxonomy. This integration of different taxonomies eases the migration and achievement of objectives in Mexico and worldwide, as many of our companies here in Colombia and other parts of Latin America also have headquarters in Europe, making it necessary for them to meet certain metrics. Having a consistent transformation facilitates integration and compliance at the national level. The taxonomy contributes to bonds and provides investors with certainty that what they are investing in is not greenwashing." |
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"What we are projecting, and indeed observing, is that the participation of sustainable bonds in the total emissions of Latin America is broad and projected. Out of the trillion-dollar participation of bonds globally, sustainable emissions represent approximately 16%. In Latin America, it is expected that they represented 29% last year and it is projected to reach 30% this year. As a region, I believe we are giving even greater importance to this matter than it is globally recognized, despite knowing and hearing that Europe is leading in all these matters. I believe that in Latin America, to make the most out of all the challenges we are facing, there is a significant involvement in sustainable debt and corporations are seeking to have this sustainable debt in the markets. " |
| See more testimonials here. |