It is well known that losses due to extreme weather events have increased globally in the last decades. The Latin America and the Caribbean (LAC) region has not been an exception. It is estimated that from 1998-2017, economic losses due to climate-related disasters caused USD 2,245 billion in the region evidencing the urgent need to mobilize financial resources to fund climate-resilient investments. At the same time, the interest for green bonds in Latin America has been constantly growing over the recent years, from both public and private sector issuers – including sovereign states – with the record issuance of approximately USD 4bl in 2019.

In September 2019, the Climate Bonds Initiative (CBI) launched the Climate Resilience Principles which provide guidance on the range and type of climate resilience investments, on how to define and assess physical climate risks and demonstrate resilience outcomes. By doing this, the principles support mainstreaming of resilience considerations across green bonds and improve transparency of the market.

Following the adoption of the Climate Resilience Principles, the European Bank for Reconstruction and Development (EBRD) launched the first dedicated climate resilience bond, raising US$ 700 million to finance the Bank’s existing and new climate resilience projects. The bond is aligned with both the Green Bonds Principles and the Climate Resilience Principles and could represent an interesting model suitable for replication in Latin America and the Caribbean region as well.

Join us in a conversation with Anna Creed (CBI) and Craig Davies (EBRD) to learn more about:

– The Climate Resilience Principles
– The experience of EBRD in issuing the first dedicated climate resilience bond
– Applying resilience principles & criteria to investments in IDB countries

The webinar will be moderated by Gianleo Frisari, IDB.

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