Economics and Sustainable Development in Latin America: An Urgent Challenge to Address

Latin America and the Caribbean are the regions most affected by climate change globally. According to the data of IGlobal Green Growth Institute (GGGI), more than two hundred million people in the region are already affected by climate-related events. Also, the region recorded losses Biodiversity 94%, highest in the world.

Derived from the above panorama, GGGI held a digital forum “Financing for Adaptation, Biodiversity and Social Inclusion in Latin America and the Caribbean”.The meeting brought together key government leaders, financial experts and representatives from various institutions to discuss and reflect on the challenges and achievements in financing adaptation and biodiversity conservation in the region.

Experts shared important knowledge and experiences to address environmental challenges and promote sustainable development in Latin America and the Caribbean. It was devoted to a discussion of funding needs, initiatives and achievements related to adaptation and biodiversity in the region.

One of the most relevant speakers at the event Gabriel YoriMexico’s Undersecretary of Finance and Public Credit shares his perspectives on financial strategies to address climate challenges.

“Focusing on middle-income countries is necessary because of their unique challenges, global ecological importance and the need for multi-sectoral collaboration to ensure resilient and sustainable development. This effort requires coordination between the Ministries of Finance, Planning and Environment, and with the support of partners like GGGI, sustainable finance in our region. “Their role is crucial for the development of mobilization strategy, sustainable taxonomy and strengthening. Capacities in the financial sector,” noted the Deputy Secretary.

The event also discussed the importance of motivation Accelerating innovation and change Integrating capital flows with sustainable development goals, towards a resilient and inclusive global economy.

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Invited experts discussed the economic imperatives that represent the objectives of sustainable financing. This is because communities vulnerable to climate change are those with limited resources, so this new economy will have a direct impact on the quality of life of the people living there.

“People in vulnerable situations are the most physically and economically affected by the impacts of climate change. So, that’s where they become the protagonists of change. Beyond the environmental benefits, protecting biodiversity can unlock trillions of dollars in economic value. From new medicines to sustainable agriculture and ecotourism.” Sustainable Finance, “We can make investments to protect and restore our homes and ensure we continue to feed future generations and our children,” he said. Tatiana Escobar, Deputy Country Representative of GGGI, Colombia.

One of the relevant topics during the presentations was the growing context of extreme events and the emergence of innovative and more inclusive financial instruments to address them. “Not everything in green is fair, and that’s especially true when we look at gender issues in the fields of energy and agriculture. If we don’t prepare, we won’t be included in the jobs of the future, and we need to be vigilant in closing that gap.” He pointed out Miracles of CampsDeputy Minister for Climate Change and Sustainability at the Ministry of Environment and Natural Resources of the Dominican Republic.

“In Latin America and the Caribbean, we are committed to sustainable green development. This event is an invaluable opportunity to strengthen cooperation and mobilize resources towards the adaptation and conservation of biodiversity in the region. Incorporating a gender perspective and climate-adaptive society will drive change that will drive the development of countries in the region, creating a positive impact on people., Completed after the event Ferruccio Sandetti, GGGI Regional Director for Latin America and the Caribbean.

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