The Regional Climate Change Platform was launched in August 2022 with the aim of establishing a specialized regional mechanism that supports those responsible in the Ministries of Economy and Finance (MEFs) of Latin America and the Caribbean (LAC) in the search and the exchange of knowledge, experiences, and also in the implementation of tangible solutions to address the region’s socioeconomic challenges associated with climate change and sustainable development.

The Ministry of Finance of the Dominican Republic has assumed the Platform’s pro tempore presidency during the first year of operation. Representatives of the ministries of Treasury, Economy and Finance from 20 countries of the LAC region met in Punta Cana with the objective of advancing the action plan for the second year of the Platform.

During the working sessions in Punta Cana, the progress made by the Platform’s working groups was reviewed, and furthermore the representatives agreed on the next steps to establish a follow-up mechanism for the member states in matters of fiscal policy and climate change, with the purpose of demonstrating how, with the support of the Platform, the countries advance in the implementation of their green fiscal agenda.

The platform seeks to make better use of public resources to promote a transition to low carbon emissions economies, resilient to the impacts of climate change while meeting the goals of the Paris Agreement. The Inter-American Development Bank (IDB) acts as the technical secretary of the Platform, helping to coordinate and facilitate dialogue between local finance ministries.