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The Inter-American Development Bank (IDB) has published a document in which it analyzes the situation of companies in the Latin America and the Caribbean (LAC) region in terms of environmental commitments linked to carbon neutrality and the progress made in the implementation of measures to achieve the climate commitments aligned with the Paris Agreement.
The document describes the main organizations and structures that support the global agenda of science-aligned commitments, considering campaigns (e.g. Race to Zero), coalitions (e.g. Net-Zero Banking Alliance), and methodological and standards organizations (e.g. SBTi). Additionally, it presents success stories of net-zero commitments in LAC and identifies the challenges and recommendations for companies in the region in terms of establishing climate commitments and their fulfillment. The main recommendations for SMEs refer to the need to develop tools and guidelines adapted to the region, facilitate access to financing and promote capability building. On the other hand, for large companies, it highlights the importance of actively involving the supply chain in the emission management.