The climate crisis is underway and is increasingly getting hard to ignore. July 2021 joins the one in 2020 as the third warmest July on record globally. Brazil suffered from extremely low temperatures that sent international prices for coffee and sugar higher. Greece went through the worst heatwave since 1987, reaching 46°C in some regions, unleashing devastating wildfires that forced the evacuation of hundreds. Turkey faced some of its worst wildfires in years, reporting more than 130 wildfires across 30 Turkish provinces and leaving thousands homeless. And the list could go on.
These abnormal temperatures are driven by climate change, and they will dramatically aggravate over time if we don’t take immediate action. The science is clear: to limit global temperature rise to 1.5°C and avoid points of no return, we must cut global emissions by 45% by 2030 and reach net zero by 2050.
The bad news: current climate commitments do not take us there. Pledges made by countries lead us to a warming of 2.4°C. The latest IPCC report presents compelling evidence that temperatures are rising faster than before, and we are dangerously approaching the 1.5°C mark. The good news is we can still avoid the worst impacts of climate change if we cut GHG emissions. The coming 26th UN Climate Change Conference of the Parties (COP26) will be key to accelerating action. Under the ambition cycle, countries must present Long-Term Strategies (LTS) to reach net-zero emissions, and announce new or updated NDCs in line with that long-term objective. To date, 147 countries have submitted their new Nationally Determined Contributions (NDCs) and 32 countries plus the European Union have submitted LTS.
NDC Invest supports countries of Latin America and the Caribbean to accelerate climate action
At NDC Invest, we are supporting countries in Latin America and the Caribbean to accelerate climate action and achieve the goals of the Paris Agreement through transformational climate policy and finance. We do it through three main products developed to achieve net-zero emissions, climate resilience and sustainable development, which we present in detail in our latest report “NDC Invest: Supporting transformational climate policy and finance”:
- Plan beyond – Design of LTS for net-zero emissions and climate resilience: We support the design of technically and politically sound LTS and the strengthening of the local capacity of governments and academia to inform long-term development strategies. With robust co-construction methods we support countries in identifying the physical transformations to achieve decarbonization, climate-resilience, and broader development goals, as well as the policy roadmaps for implementation in the short, medium, and long-term. Among other countries, we have closely collaborated with Chile, Peru, Costa Rica, and Colombia, and a subnational level with João Pessoa in Brazil. We also actively collaborate in this work with key partners, including the 2050 Pathways Platform and the French Development Agency
- Increase Ambition – design of aligned NDCs: Through sound methods and active participation from local stakeholders, we support countries on the design of ambitious, realistic, and implementable NDCs aligned to net-zero emissions, climate-resilience, and national development plans and goals. See some examples of our support in Suriname and Barbados.
- Act now – Investment Plans and Finance Strategies: We help countries translate their LTS and NDCs into investment plans, clarify required policy and regulation, put in place measures for effective use of public resources, and develop tailored financing instruments to mobilize private investments for the effective implementation of NDCs and LTS. We have already worked with Chile, Costa Rica and Jamaica on this front of action.
These three products are the fruit of our experience working with countries throughout the years and are not intended to work as a fixed recipe. Rather, they are intended to work as a toolbox to provide flexible and relevant solutions tailored to country needs and context. Our work is guided by a set of seven principles that include to the pursue multiple development objectives, using the best available science, co-construction with multiple stakeholders, and ensuring a just transition.
We are proud to continue supporting countries in the region to enhance and implement their climate and development goals to pursue a sustainable recovery from the unprecedented health and economic crisis that is affecting all countries. We hope that our toolbox of support is instrumental to the noble purpose of the countries of our region.
NDC Invest: Supporting Transformational Climate Policy and Finance
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