The Roadmap for Climate Action in Latin America and the Caribbean (2021-25) aims to guide the World Bank Group's response to transformative and far-reaching actions in the region.
This document provides a regional overview of potential new and transformative opportunities for the World Bank Group to contribute to building resilience to climate change impacts, achieving national climate change mitigation goals, and facilitating the transition to low-carbon economies, as well as supporting green recovery and strengthening competitiveness for long-term economic growth post-COVID 19.
While most countries in the region have updated their commitments to mitigate climate change, relatively few have developed long-term strategies to achieve zero net greenhouse gas (GHG) emissions, which is why the report main focus in the opportunities in these areas to generate economic growth and deliver services with lower emissions. The latter is critical to accelerate climate action and lead an urgent transition to low-carbon economies to avoid the irreversible effects of climate change.
Finally, given the essential role that the private sector will play in financing climate action, the roadmap mainly focuses in the creation of markets for climate business solutions through policies, financial innovations and market strategies that support competition and innovation.