Climate Finance - Page 3 of 25

UK reaffirms commitment to sustainable development in Latin America and the Caribbean with US$100 million capital increase in IDB
December 19, 2024
The UK has reaffirmed its support for sustainable development in Latin America and the Caribbean by announcing a US$100 million capittal increase in the Inter-American Development Bank (IDB). This includes backing the IDB’s “Originate to Share” business model and plans for a potential fivefold increase in the UK’s capital share in the institution. Source: Jamaica […]
Bahamas announces US$300 million debt-for-nature swap for marine conservation
December 6, 2024
The Bahamas has refinanced US$300 million of its external debt, securing over US$120 million for marine conservation and climate change mitigation projects. This “debt-for-nature” deal, the fifth of its kind globally, was made with The Nature Conservancy, the Inter-American Development Bank, and other financial partners. Source: AP News
Barbados launches world’s first debt-for-climate resilience swap
December 6, 2024
Barbados has implemented the world’s first “debt-for-climate resilience” swap, unlocking US$165 million for climate adaptation projects. The deal allocates US$125 million to upgrade sewage treatment plants, improving water supplies and reducing marine pollution, alongside investments in water infrastructure, food security, and environmental protection to combat climate change effects. Source: Reuters
Neoenergia to invest US$52.2 million in renewable energy project for Fernando de Noronha
November 21, 2024
Neoenergia SA, a Brazilian utility company, announced an investment of US$52.2 million to expand renewable energy use in Pernambuco’s Fernando de Noronha archipelago through its Noronha Verde initiative. The project will include a solar photovoltaic (PV) plant with battery storage, set to begin operations in early 2027. Source: Renewables Now
Enel to invest US$40 billion in grid and renewable energy over next three years
November 21, 2024
Enel SpA, Italy’s utility giant, plans to invest US$40.05 billion in its grid and renewables energy businesses between 2025 and 2027, focusing on core activities and regulated assets with predictable returns. About 75% of the total investment will be directed toward Enel’s European operations, while the remaining 25% will go to its Latin and North […]
EIB and CDB launch US$109.4 million initiative to improve water management and protect Caribbean oceans
November 7, 2024
The European Investment Bank (EIB) and the Caribbean Development Bank (CDB) have launched a US$109.4 million initiative to enhance water supply management and protect the ocean ecosystem across the Caribbean. The funding will support projects aimed at improving clean water access, wastewater treatment, solid waste collection, and flood prevention, while also addressing climate change impacts […]
Enel Colombia to invest nearly US$2.1 billion in Colombia’s energy transition
November 7, 2024
Enel Colombia will invest nearly US$2.1 billion in the coming years to support Colombia’s energy transition. During discussions of the investment, Colombian President Gustavo Petro and Enel executives emphasized the commitment to a clean and secure energy supply for the country. Source: PV Magazine LATAM
BNDES approves US$6.6 million loan to boost biomethane production
November 7, 2024
The Brazilian Development Bank (BNDES) has approved a loan of US$6.6 million to expand biomethane and biogas production at Geo Biogas&Carbon’s Tamboara facility in Parana. Once the project is complete, most of the biogas will be converted to biomethane for additional energy generation. Source: Renewables Now
Growing investment in voluntary carbon credits in Latin America
November 7, 2024
The voluntary carbon credit market is seeing growing investment, especially in developing countries like Colombia, Mexico, and Peru. These nations are amongst the top five leaders in carbon regulation and are actively engaging with international frameworks, including Article 6 of the Paris Agreement, to facilitate emissions credit trading. Colombia, in particular, stands out with its […]