IDB Lab, the innovation laboratory of the Inter-American Development Bank, has signed an agreement with Latimpacto, a network of impact financiers that provides human, intellectual, and financial capital in Latin America, with the aim of supporting social and environmental impact solutions that contribute to reducing GHG emissions in Latin America and the Caribbean (LAC).

The alliance will have a particular focus on the Amazon (non-exclusive), offering a response to the nowadays challenges by promoting decarbonization solutions with technological and nature-based approaches, and contributing to compliance with the Paris Agreement. It will be funded by resources from the IDB’s Amazon Initiative under the Amazonia Forever Program framework. Its goals include the efficient management and recovery of hectares of land and forests contributing to CO2 emissions reduction and the development of activities promoting the restoration and sustainable use of land.

With an initial contribution of 3.8 million dollars, plus contributions from private and strategic partners, this alliance aims to reduce or avoid nearly 6.2 million tons of CO2 in its fifth year, as well as provide support to 500 entrepreneurs and startups linked to decarbonization in the region.