June / 16 / 2021
It is the launching event of an Inter-American Development Bank (IDB) new publication for National Development Banks (NDB) – “A Guidebook for National Development Banks on Climate Risk” – which provides them with a roadmap for the integration of climate-related risks and opportunities in alignment with the recommendations of the Financial Stability Board’s Task Force on Climate-related Financial Disclosures (TCFD).
The event aims at convening strategic IDB partners, international standard setters and the global development banks community to discuss the role of National Development Banks (NDB) in addressing climate risks and opportunities.
To successfully fulfill their mandate, NDB need to understand and manage the climate-related risks they face and to which they could be contributing. The rationale is two-fold: a) recognizing climate-related risks and opportunities will allow the NDB to make more informed decisions in asset allocation to protect their portfolio; and b) seizing climate-related opportunities will enable the NDB to correct prevailing market failures in green investments. In re-allocating their assets, the NDBs will be influencing their redistributive impact on society through investments that accelerate the transition towards a carbon neutral economy.
This post is also available in: Spanish