IDB Invest, the private sector arm of the Inter-American Development Bank (IDB), will be issuing the first certifications of green transmission lines (GTLs) in the world, the bank said on Friday.
Certification can be given to projects in their initial stages as well as transmission lines currently in operation. They have to be transporting renewable energy.
The bank has defined four categories for the certificates based on the emissions reduction capacity through the transported energy, the infrastructure design and planning, the transmission lines’ environmental impact mitigation and compensation capacity, and the types of environmental sustainability initiatives in place.
In addition to the environmental benefits, the GLT certification will help to attract new funds and institutional investors searching for high impact investments in the Latin America and the Caribbean region. The bank also believes that the development of green infrastructure will boost the regional economy after the COVID-19 pandemic.