IDB is leading the development of a regional platform on climate change for finance ministries, a network to promote a shared understanding of their role in the climate agenda. Likewise, IDB’s new Environmental and Social Policy Framework (ESPF) took effect on November 1, 2021, setting ambitious new standards to help clients tackle environmental and social issues.

The document commits to mainstream nature into policies, analysis, and investments. Additionally, multilateral development banks (MDBs) led by IDB at COP26 released a Joint Statement on Nature, People, and Planet. At COP26 (United Nations Climate Change Conference) in Glasgow, the Bank announced its commitment to align all operations with the Paris Agreement starting in 2023, and to provide $24 billion in climate and green financing during the 2022–2025 timeframe. In 2021, the IDB achieved important milestones under its sustainability framework. It highlights the consistent decrease in the greenhouse gas (GHG) footprint of the Bank’s lending portfolio, among other metrics, its projects’ disaster and climate change risks, and the application of its environmental and social policies. The report showcases projects and publications on sustainable development in the region financed and coproduced by IDB. If we and our member countries do so, Latin America and the Caribbean is poised to become the world leader in addressing an issue that knows no borders,” IDB President Mauricio Claver-Carone said. “In today’s IDB, we believe in the urgent need to move past climate change diagnosis and significantly ramp up our efforts to tackle it. The report highlights IDB’s unique integrated approach to sustainability in its governance, strategy, policies, and project cycle, leading climate action devoted to jobs generation and socioeconomic benefits, disaster-risk management and resilience, biodiversity, and innovative financing tools under a gender and diversity-inclusion focus. These resources, which account for 30% of the Bank’s total annual approvals, are benefiting the region through loans, grants, technical cooperation, guarantees, and equity investments. Last year, the Inter-American Development Bank (IDB) financed a record $4.5 billion in activities related to climate change, according to its 2021 Sustainability Report. IDB Launches 2021 Sustainability Report Focused on Integrated Climate Action

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