IDB spearheads agreement to integrate nature in multilateral banking

London, Nov 2 (EFE).- The Inter-American Development Bank has spearheaded an agreement among multilateral entities around the world to integrate environmental protection into their policies, analysis and operations.

IDB President Mauricio Claver-Carone unveiled the document “Nature, People and Planet” at the World Leaders Summit at the COP26 climate conference.

The paper was signed by multilateral development entities from Africa, Asia, Latin America, the Caribbean, Europe and the Middle East, as well as the World Bank Group.

“Natural capital is key in the post-Covid recovery for Latin America, the Caribbean and the world. It can help create jobs, generate income, drive private sector investment and protect critical ecosystem services,” Claver-Carone said.

“For that reason, we at the Inter-American Development Bank have redoubled our work on climate change and biodiversity over the past year,” the institution’s president said, adding that the natural agenda is a central pillar of the bank’s vision for recovery.

Speaking to delegates at COP26, which runs until November 12 in Glasgow, Scotland, Claver-Carone said that the fact that the British government commissioned the IDB to coordinate the agreement between the banks firstly recognizes “that Latin America and the Caribbean play a crucial role in the global imperative for decisive action on climate change and nature.”

It also reflects that the host country and other leaders recognize the need to “move from words to action.”

The president pointed out that the Latin American and Caribbean region is one of the most diverse in the world, but also one of the most exposed to the risks of climate change.

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