The historic climate agreement in Paris in December 2015 signed by 195 countries helped turn climate change into more than just a buzzword. Heads of state and company CEOs vowed to buy more clean energy, and leaders of global financial institutions pledged to invest hundreds of billions of dollars over the next 15 years in clean energy and energy efficiency.
The momentum of COP21 has also opened doors for new opportunities for the private sector in countries of Latin America and the Caribbean (LAC) in various climate-smart industries.
LAC region faces a range of issues caused by climate change, including threats to drinking water resources due to the shrinking ice pack in the Andes, potential reductions in crop yields and flooding due to rising sea- levels. LAC is also the most urbanized developing region in the world, which further increases the footprint of cities and makes the introduction of greenhouse gas emissions reduction practices a necessity.
Latin American private sector’s strong presence at COP21 was a clear indication that climate change is on the radar of many companies who are increasingly aware of the physical risks it poses for their businesses and are incorporating climate-smart strategies into their operations and new ventures.
In order to take advantage of this momentum and capitalize on significant private sector opportunities present in climate-smart industries, IFC is hosting LAC Climate Business Forum 2016 in Bogotá, Colombia, June 14-15, 2016. The two-day event, designed as a platform for exchanging best practices and innovative approaches, will bring together private and public sector leaders from the region and globally, development experts, thought leaders and IFC staff.