The Inter-American Development Bank (IDB) has published a study that describes a series of useful management practices and tools to integrate climate action in public investment management and pays special attention to those that support the planning and resource allocation phases.

The document analyzes and proposes an intervention framework in public investment management processes that includes: i) adopting national adaptation and decarbonization strategies as tools to guide investments; ii) establishing climate finance strategies that facilitate access those resources needed to launch priority projects; iii) integrating risk management against climate events into public investment management; iv) using the social carbon price in project’s cost-benefit assessments; v) applying green investment taxonomies; and vi) adopting prioritization processes for resilient and low-carbon investments.

Finally, the authors present a set of considerations on governance and the generation of institutional capabilities that should be adopted to accelerate the alignment of public investment management with national and global climate goals.