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Latin American and Caribbean Finance Ministers agree on regional vision to scale up climate finance

09/02/2024 Since 5 months

During the Third High-Level Dialogue event of the Regional Platform on Climate Change of Ministries of Finance, Economy and Public Finance of Latin America and the Caribbean, held in Belize at the end of August, members agreed to adopt a “Regional Vision for Sustainable Financing” in order to boost sustainable finance and promote effective investments that better position the countries to meet their climate commitments.

The Vision focuses on five main pillars: i) increasing the New Collective Quantifiable Climate Goal (NCQG) under the Paris Agreement; ii) improving the capacities of countries in the region to access financing from climate and biodiversity funds; iii) strengthening how these funds are monitored; iv) promoting national efforts to meet climate commitments; and v) supporting a reform of the international financial architecture for fairer and more just transitions.

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